Folks in Korea are popping champagne
Samsung’s top brass has plenty to celebrate this year. According to regulatory filings ahead of its Q4 earnings announcement, the Korean company says that it expects to have earned around 15.1 trillion Korean won or around $14.1 billion in Q4, a 63.8% jump from the same period last year.
That number falls a little short of average forecast profit for the company, which was earlier pegged at 15.9 trillion won. For the full year of 2017, Samsung said it expects consolidated operating profit of about 53.6 trillion won against 239.6 trillion won in sales.
Samsung did not disclose the breakdown of its performance in its regulatory filings, but analysts expect that a large chunk of their profits were from memory chips, semiconductor business as well as display sales.
While Apple is also looking at a bullish fourth quarter buoyed by its new iPhone X, Samsung also takes a nice cut off of every sale of their new phone since they’re the ones supplying the display for the device.
