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Samsung Electronics tips record fourth quarter profit, misses expectations on strong won

Reuters  |  SEOUL 

By Joyce LeeSEOUL (Reuters) - Samsung Electronics Co Ltd on Tuesday estimated a 64 percent jump in fourth-quarter operating profit to a new record, but the guidance fell short of market expectations as the strong won and year-end bonuses dented profits. The global memory chip leader and Apple Inc smartphone rival said its October-December profit was likely 15.1 trillion won ($14.1 billion), compared with a 15.9 trillion won average estimate from 17 analysts surveyed in a Thomson Reuters poll. Based on the guidance, Samsung's 2017 operating profit is likely 53.6 trillion won, compared to ...

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First Published: Tue, January 09 2018. 05:34 IST
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