Latest in Earnings

Image credit:

Samsung estimates operating profit of $4.5 billion on cellphone, hard drive biz sales

35 Shares
Share
Tweet
Share

Sponsored Links

Fourth quarter estimates for Samsung's earnings are out and wouldn't you know it, selling a record number of mobile phones -- more than three times over what it sold in the same period last year -- is a pretty good way to turn a profit. Businessweek notes it closed the three months ending in December with an operating profit of 5.2 trillion won ($4.5 billion), beating analyst estimates. Other than the more than 300 million phones it sold, there was also a bump from the $1.38 billion sale of its hard drive business to Seagate that helped overcome drops in profits from its chipmaking and flat-screen units. Detailed results are expected later on this month, but The Wall Street Journal reports Samsung expects to notch an operating profit of 16.2 trillion won ($14 billion). Here's hoping it takes a break from counting up all that cash to show off a few things better and brighter next week at CES.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
35 Shares
Share
Tweet
Share

Popular on Engadget

Kik Messenger will keep running under a different owner

Kik Messenger will keep running under a different owner

View
Netflix's 'Cowboy Bebop' production pauses after John Cho is injured on-set

Netflix's 'Cowboy Bebop' production pauses after John Cho is injured on-set

View
Nike puts an accessibility twist on its iconic Air Jordan 1

Nike puts an accessibility twist on its iconic Air Jordan 1

View
Alphabet’s Wing starts drone deliveries to US homes

Alphabet’s Wing starts drone deliveries to US homes

View
Boeing messages hint staff may have misled FAA about 737 Max

Boeing messages hint staff may have misled FAA about 737 Max

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr