Samsung Made $7.92 Billion in Profit During Q4, Shipped 90 Million Smartphones
Samsung had quite the year throughout 2016. Not only did they spend money by taking the Galaxy Note 7 off the market, but they also had to invest money into actually getting these recalled devices shipped back to them. Many thought it spelled doom for the South Korean conglomerate but things didn’t really turn out that way.
Sure, profits would have been higher if they hadn’t had to deal with this recall, but the company’s other flagship and various endeavors were enough to help keep the mobile division afloat.
During the 4th quarter of last year, Samsung Electronics was able to bring in 53.33 trillion won in overall revenue. Compared to the same quarter in 2015, this was actually a slight increase from 53.32 trillion won. When we look at the whole year for Samsung, their revenues reached 201.87 trillion won, which again was up from the 200.65 trillion won they brought in for 2015. Looking at just the profit portion of the financial report, we see that Samsung was able to earn 9.22 trillion won for the quarter (which is about $7.92 billion).
This was a huge increase compared to the 4th quarter in 2015 when they brought in 50.1% less than they did in 2016. Profits for the whole year of 2016 reached 29.24 trillion won and this was a modest increase compared to 2015’s profits when they were able to bring in 26.41 trillion won. So yes, Samsung’s mobile division did slip a little compared to what it could have done if the Galaxy Note 7 hadn’t had any issues, but they were still able to do well thanks to the company’s components businesses (mainly the memory and display divisions).
It’s also being reported by The Korea Herald that Samsung was able to ship a total of 90 million smartphones throughout all of Q4 2016. This is in addition to the 9 million “tablet PCs” that the company shipped during the same time period. A Samsung spokesperson has been quoted as saying they’re going to try and get a water and dust resistant device in both the low-end and mid-range markets sometime in the future.Source: Samsung Newsroom