Jan 9, 2018

Samsung forecasts record profits but misses expectations

Samsung Electronics expects to deliver record profits for the last three months of 2017, but the estimate missed analyst expectations. The world's biggest memory chip maker forecast operating earnings of 15.1 trillion won - up 64% from a year earlier. The forecast keeps Samsung on track for record annual profits, in a year when prices for computer memory chips kept surging. The 2018 outlook is less certain, with Samsung shares having fallen nearly 10% from their all-time high in November, as some investors bet on an end to the chip boom. Samsung Electronics is regarded as the jewel in the crown of the Samsung Group conglomerate, which is made up of 60 interlinked companies and is one of South Korea's massive family-run businesses known as chaebols.

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