Samsung comes through the fire in fine form, as profit soars
Seoul — Samsung Electronics underscored the resilience of its business when it reported its best operating profit in three years, weathering the death of its fire-prone Galaxy Note 7 with the help of its workmanlike chip and display divisions and cheaper smartphones. The world’s largest maker of mobile devices posted a 50% surge in quarterly operating profit after demand from Chinese smartphone brands pushed up memory chip prices and buoyed the unit that makes organic light-emitting diode screens. Samsung also touched up an older phone line-up with new colours and features, helping tide it over in the Note 7’s absence. Samsung is emerging from its biggest corporate crisis, when reports of incendiary Note 7s forced the Korean company to kill its most profitable gadget. It still has not revealed the results of a subsequent investigation into an episode that cost Samsung more than $6bn and assured Apple of the lead in premium devices over the holidays. It is now counting on its next ma...
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