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20 February 2018
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Samsung soars on the news of strong results and split shares

01 February 18 - RE+D Magazine
Samsung soars on the news of strong results and split shares

COMPANIES

NAI Hellas

Consultant - GREECE

PEOPLE

Samsung Electronics Co. is splitting its stock as a “step to enhance shareholder value,” after reporting record earnings on robust demand for memory chips and sales of high-end displays for the iPhone X according to Bloomberg.

 

Sales of memory chips and exclusive orders for the organic light-emitting diode screens in Apple Inc.’s most expensive phone have fueled component profits and helping offset the impact of a rising won.

The results draw a line under an eventful 2017 for the company, after heir apparent Jay Y. Lee was jailed for corruption even as its earnings and share price rose to a record.

Operating profit for the quarter was 15.15 trillion won on sales of 66 trillion won, Samsung said, confirming preliminary numbers released earlier this month.

Samsung said a higher Korean currency reduced profit by 660 billion won, and that it anticipates a “negative impact” from the fluctuations in the won and lower seasonal demand in the first three months of the year.

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