Samsung profits up 50%. LG suffered a net loss for the first...

Samsung profits up 50%. LG suffered a net loss for the first time in 6 years

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Profit Samsung has grown despite the failure of Galaxy Note 7

Samsung Electronics has published a new financial report for the fourth quarter of 2016, which unexpectedly reported a jump in net profit by 50% compared with the period a year earlier, according to Reuters.

Profit Samsung has grown, despite a high-profile failure of one of its flagship smartphones Galaxy Note 7, mainly thanks to good sales of chips, as well as continued high sales of other smartphones.

According to the report, the operating profit of the Korean technological giant in the fourth quarter of last year totaled $7.8 billion, the highest figure for the last three years, from third quarter 2013 Profit of Samsung significantly exceeded the forecasts of most analysts.

Previously, experts expect that the company will need more time to recover their performance after the collapse of the Galaxy Note 7, which became one of the biggest failures in the history of electronic products in General. In addition to sales in other key segments of the for Samsung such as memory chips, the jump in financial performance of the Korean company is positively influenced by the fall in market value of the Korean currency. In the fourth quarter of 2016 won against the U.S. dollar fell by 8.8%.

LG received a loss due to poor smartphone sales

Amid the impressive financial performance Samsung looks even bleaker financial report other Korean consumer electronics giant – LG Electronics. In the fourth quarter of 2016, the company recorded an operating loss for the first time in six years. Analysts explain such a weak performance for sales of smartphones from LG and seasonal demand for home appliances.

Samsung has received a sudden profit increase by 50%, and LG – net loss for the first time in six years