Samsung Swings to a Profit
Samsung Electronics Co. on Friday said it earned 3.1 trillion won ($2.6 billion), in the fourth quarter, a slight loss of momentum as it ended a whipsaw year in which it rebounded from its first quarterly loss and recorded its second-highest annual profit.
The company said that it swung to an operating profit in the fourth quarter and expects profitability to improve in the current quarter due to strong chip prices and lower marketing costs.
Samsung swung to an operating profit of 3.7 trillion won ($3.1 billion) in the fourth quarter from an operating loss of 740 billion won a year earlier.
Sales rose 19 percent to 39.24 trillion won in the fourth quarter from 33 trillion won a year earlier, the company said in a regulatory filing.
