Samsung Electronics posts biggest operating profit in 2017

Samsung Electronics profit guidance misses expectations as won weighs

The logo of Samsung Electronics is seen at its office building in Seoul

Tentative consolidated revenues for the fourth quarter of 2017 is almost KRW 16.9 trillion with an operating profit of KRW 366.8 billion.

Analysts surveyed by Reuters had forecast 15.9 trillion won profit on average for the company for final quarter of 2017.

SK Telecom, the nation's biggest mobile carrier, increased 3.76 percent to 276,000 won, and No. 3 LG Uplus jumped 7.83 percent to 15,150 won. Net income and detailed earnings of each business will be announced later in the month after auditing.

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

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Samsung has had to overcome a bribery scandal that saw the company's de-facto head Lee Jae-Yong thrown into jail as well as a damaging recall past year of its flagship Galaxy Note 7 smartphone over exploding batteries.

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Samsung will unveil its quarterly and full-year results at the end of January.

Samsung said it expects its operating profits for the 2017 full year to hit 53.6 trillion won and to post full-year sales of 239.6 trillion won. For comparison, the company "only" made 29 trillion won (around $27 billion) in 2016.

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