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Samsung Electronics posts biggest operating profit in 2017
Last Updated: 2018-01-09 00:00 | Xinhua
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Samsung Electronics, the world's largest maker of memory chip, flat screen and TV, posted its biggest-ever operating profit in 2017, the South Korean company said Tuesday.

The preliminary result for Samsung's operating profit was 53.6 trillion won (50.3 billion U.S. dollars) in 2017, topping the previous record yearly high of 36.79 trillion won (34.5 billion U.S. dollars) tallied in 2013.

Revenue hit a new yearly high of 239.6 trillion won (224.8 billion U.S. dollars) in 2017, surpassing the previous high of 228.69 trillion won (214.5 billion U.S. dollars) in 2013.

The preliminary figures for revenue and operating profit were up 18.7 percent and 83.3 percent each from the prior year. Net income and detailed earnings of each business will be announced later in the month after auditing.

The ratio of Samsung's operating profit to revenue in 2017 reached a fresh high of 22.4 percent.

During the October-December quarter, Samsung's operating profit hit a new quarterly high of 15.1 trillion won (14.2 billion U.S. dollars). It was up 63.8 percent compared with a year earlier, but the figure missed market expectations of about 15.9 trillion won.

Preliminary revenue for the December quarter advanced 23.8 percent over the year to 66 trillion won (61.9 billion U.S. dollars).

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