'

​Samsung Electronics expects annual profit to almost double

Samsung Electronics has posted 15.1 trillion won in operating profits for the fourth quarter of 2017, its highest ever for a quarter, marking a total of an all-time high 53.6 trillion won profit for last year.

Samsung Electronics has posted 15.1 trillion won (US$14 billion) in operating profits for the fourth quarter of 2017, breaking its quarterly profit for the third consecutive time this year alone.

In its earning guidance, the South Korean tech giant said it expected an operating profit of 15.1 trillion won and revenue of 66 trillion won for the fourth quarter, breaking its previous record, 14.53 trillion won, for the third quarter of 2017. In the second quarter, it posted 14.07 trillion won, a then-record.

The profits were backed by a recovered mobile division, but were driven mostly from its semiconductor business, which is enjoying an all-time high demand for memory chips.

The demand has been especially high in China from smartphone vendors.

Chip business executives also received the most promotions during last year's leadership reshuffle.

Samsung will wrap up last year with an operating profit of 53.6 trillion won, its highest ever yearly profit. Its chip business has contributed around 35 trillion won.

In 2016, the company posted a total of 29 trillion won in operating profits for the year.

High demand for memory chips will likely continue this year, however, Samsung, SK Hynix and Toshiba are all increasing production capacity that will likely bring down pricing.

Samsung is investing 30 trillion won in its Pyeongtaek chip line by 2021 that will increase its capacity even further.

Previous Samsung Coverage

CES 2018: Samsung to show off AI-applied 8K QLED TV

Samsung's new 85-inch QLED TV is capable of converting low-resolution videos into 8K resolution.

CES: Samsung unveils modular 146-inch MicroLED TV

Samsung Electronics' has unveiled its first 146-inch modular MicroLED TV dubbed the "The Wall" at CES.

Samsung begins production of AI-boosted Exynos 9

Samsung's 10-nanometre Eynos 9 is a mobile application processor with a neural network-based deep-learning algorithm for intelligence image processing, used for facial recognition and AI features.

Samsung to reveal QLED monitor with Thunderbolt 3 at CES

The 34-inch curved monitor, CJ791, comes with a Thunderbolt 3 cable that moves data at speeds four times faster than USB alternatives.

Windows 10 Surface rival: Samsung's new Notebook 9 Pen 2-in-1 packs latest i7 chip

Samsung updates last year's well-received Notebook 9 laptops and adds a 2-in-1 with a bundled S Pen.

Samsung partners with St Vincent's Hospital for pain management with VR (TechRepublic)

At Samsung's inaugural Healthcare smart summit, professor Steven Faux at Sydney's St Vincent Hospital talked TechRepublic through their use of virtual reality to manage pain management as part of an u...

Video: What's changing with Samsung's digital assistant in Bixby 2.0 (TechRepublic)

Samsung's Bixby digital assistant is transforming in a big way in its 2.0 versions. Here are some of the biggest differences coming in 2018.