Samsung's profit jumps 50 percent despite Galaxy fiasco

Wibbitz Top Stories 2017-01-06

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Samsung Electronics Co. said Friday that its profits in the last quarter of 2016 surged 50 percent to the highest level in more than three years, despite the Galaxy Note 7 fiasco. Analysts expect Samsung's chip business to be responsible for $3.8 billion of its operating income. Samsung's numbers were boosted by a weak Korean won, as well, since it only takes US dollars for component sales.

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