Despite of Samsung’s leadership crisis, the company still managed to have a $50B profit!
Though Samsung had some losses over the last 18 months, it’s never a hindrance to hit a huge profit. In 2017, the company made an operating profit of 53.6 trillion Korean won ($50 billion). Compared to 2016’s profit of 29.2 trillion Korean won ($27 billion).
These figures were announced last Tuesday together with Samsung’s Q4 2017 financial results. It tracked the company’s performance from October up to December last year. Samsung had a profit of 15.15 trillion won ($14 billion) during Q4. It’s very high compared to the same quarter in 2017 which was only 9.22 trillion ($8.6 billion).
Samsung said that the success was mainly because of its components business. Particularly thanks to memory cards used in servers and mobile devices. Also, the shipments for OLED screens were up due to Samsung’s selling of screens to Apple for the iPhone X.
Samsung’s mobile business was slightly down compared to Q3 2017. While the Galaxy Note 8 were up compared to last year. Total shipments had its downward due to the lower sales of the company’s budget and midrange offerings. It was also noted that heavy marketing cut into the division’s profits during the fourth quarter.
But still, the revenue for Samsung’s mobile unit is up compared to the same quarter in 2016. It made a total of 25.47 trillion won in Q4 2017, compared to 23.61 trillion in Q4 2016.
These figures were a big help and relief to Samsung. Following the major loss due to a disaster in Galaxy Note 7 last 2016. The company lost billions of dollars due to the call back of phone units. And worst, the overheating and catching of flames of some units. Not just that, Samsung Electronics leader Jay Y. Lee being jailed in August due to a bribery scandal. And the Vice President and CEO Kwon Oh-hyun stepped down.
Those were the nightmares that happened to the company. But despite of those problems, Samsung overcame and stood again to bring back its honor.