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Image : Crowds injured after Hong Kong escalator suddenly changes direction (VIDEOS)

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person Orange Themes access_time Mar 26,2017

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Image : Kirk Cousins builds his case as Redskins continue to rise

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person Orange Themes access_time Nov 21,2016

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Image : Angelina Jolie and Brad Pitt agree to settle divorce in private

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person Orange Themes access_time Jan 10,2017

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Samsung Electronics forecasts fourth quarter profit at over three-year high

access_time Jan 06,2017 chat_bubble_outline 33 views
Samsung Electronics forecasts fourth quarter profit at over three-year high

By Se Young Lee

SEOUL (Reuters) - Samsung Electronics Co Ltd said on Friday its fourth-quarter operating profit likely leapt 50 percent from a year earlier to its highest in more than three years, beating expectations on strong memory chip and display sales.

The South Korean technology giant said October-December profit was likely 9.2 trillion won ($7.8 billion), the highest since the third quarter of 2013 and well above the 8.2 trillion won tipped by a Thomson Reuters StarMine SmartEstimate from a survey of 21 analysts. The estimate was also higher than any individual forecast in the survey.

The upbeat outlook comes despite the anticipated $2.1 billion profit hit the firm earlier forecast for the quarter due to the withdrawal of the fire-prone Galaxy Note 7 premium smartphone in October, one of the biggest product safety failures in tech history.

Investors anticipate a surge in sales of memory chips and organic light-emitting diode screens for smartphones will more than make up for the Note 7 setback, and translate to strong earnings growth for the October-December period and through 2017.

The world's biggest maker smartphones, TVs and memory chips will not disclose detailed earnings, including the performance of its individual businesses, until late January.

Analysts expect Samsung's chip division to earn a record of more than 4 trillion won in operating profit in October-December thanks to strong demand from smartphone makers, including major client Apple Inc , and high-end data storage products.

Many analysts also expect the mobile division's quarterly profit to rebound from the third quarter, when the firm booked the bulk of its Note 7 losses, and post its first annual gain in three years thanks to healthy sales of Galaxy S7 smartphones.

Samsung Electronics said fourth-quarter revenue likely fell 0.6 percent from a year earlier to 53 trillion won.

($1 = 1,180.5500 won)

(Reporting by Se Young Lee; Editing by Stephen Coates)

Another 4,000 Syrians flee fighting in Aleppo

BEIRUT (AP) — Syria's state news agency says another 4,000 people have fled the northern city of Aleppo, where government forces are closing in on a rapidly shrinking rebel enclave.State TV on Sunday showed hundreds of Syrians fleeing eastern Aleppo as the fighting raged, saying more than 70,000 people have fled since the wide-scale offensive began earlier this month.A state TV broadcaster said insurgents still control around 7 square kilometers (4 square miles) in the city's east.Rebels… chat_bubble_outline Read More...

Seth McFarlane's new sci-fi comedy 'The Orville' set to launch

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Witnesses: Bomb blasts kill 9 in northeastern Nigerian city

MAIDUGURI, Nigeria (AP) — Twin explosions from female suicide bombers suspected to be with Boko Haram killed nine people and injured 24 in Nigeria's northeastern city of Maiduguri on Saturday morning, officials and witnesses said.The first explosion came when two of the bombers tried to enter a camp holding more than 16,000 refugees from Boko Haram's Islamic uprising at around 7 a.m. (0600 GMT), according to civilian self-defense fighter Dan Batta.The military said there was only one attacker.… chat_bubble_outline Read More...

Lorenzana: China showed interest in PH's Benham Rise

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Mixed response to VCCI ranking of Gov’t rules

A list of the best and worst regulations of 2016 compiled by the Vietnam Chamber of Commerce and Industry (VCCI) has been received by concerned ministries with varying degrees of acknowledgement and skepticism. The first such exercise carried out by the VCCI fulfills part of its mandate under Government resolutions to provide feedback from businesspeople and contribute to improving the business environment, officials said.The Ministry of Agriculture and Rural Development (MARD) has stood out… chat_bubble_outline Read More...

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