Buoyed by Strong Chip Business, Samsung Finances Get Boost – But the Political Drama Continues

Thanks for subscribing!

Samsung’s finances remain solid—for now—despite product mishaps and political uncertainty.

“The uncertain business environment such as the changing political landscape in Korea and overseas poses a challenge to the execution of mid- to long-term business strategies, such as M&A and investment decisions and developing new growth engines,” Samsung said in a statement.

With investigations still ongoing, several executives have been challenged by prosecutors over a scandal involving South Korea President Park Geun-hye.

Fourth-quarter profit rose 50% to nearly $8 billion, a three-year high. The company’s chip businesses in particular fared well, boosting earnings 77% year-over-year. Mobile sales were down for the third year in a row.

Samsung’s 2017 outlook remains cloudy. The company is hesitant to offer details on its next flagship smartphone and is long overdue for restructuring.

Samsung Has Sold Five Million Virtual Reality Headsets

Thanks for subscribing!

Thanks for subscribing!