Samsung predicts highest profit in 3 years despite Note 7 fiasco
Samsung Electronics announced earnings guidance for Q4 2016. And interestingly, Samsung forecasts to deliver highest ever profit in three years. It’s very impressive as Samsung’s biggest smartphone launch Galaxy Note 7 went in flames and cost the company close to $2 Billion.
Samsung witnessed its peak back in Q3 2014 with $7.2 Billion operating profit. At that time, the Korean giant rode on the mobile division to deliver the spectacular results. But in 2016, the picture is different. The Chip and Display unit is said to be delivering in driving mode to give blockbuster box-office results.
That doesn’t mean that mobile division did badly. Samsung’s six months old yet excellent Galaxy S7/S7 Edge drive sales for holiday quarter. As a result, Samsung came 2nd at 21% of device activation during holidays. The depreciation of Korean Won against US dollar also helped Samsung to bring healthy profit.
Samsung’s Q4 results will be announced later this month.