Samsung Electronics, the South Korean tech major, attained a net earnings of $39.30 Billion. This is 85.6% more in comparison to 2016 due to the boom in the industry of memory chip. The firm also reported a gross working earning of 56.2 Trillion Won, 83% more than the last year, the firm claimed to the media in an interview this week. Its working earning was 53.65 Trillion Won, a 83.4% rise, backed by a revenue of 239.58 Trillion Won, which is 18.6% more in comparison to that in 2016, the media claimed.
With regard to the 4th quarter of this fiscal, the biggest memory maker in the world witnessed its net profit rise to 72.9% or almost 12.26 Trillion Won as compared to the previous year. Its working earning was 15.15 Billion Won, a 64.3% elevation in comparison to the final quarter of 2016, and its trades summed 65.98 Billion Won, a rise of almost 23.7%. The firm credited the good performance in the 4th quarter to its chip business unit, which makes the NAND and DRAM memory chips that have boosted the financial results of the company all through the last year.
Samsung claimed to the media that demands for high-performance memory goods for mobile storage and servers were sturdy during the quarter from October to December. The dominance of tech behemoth in the memory segment, paired with the high requirement due to the emergence of the Internet of Things (IoT) and big data, has elevated the costs of this kind of goods and deeply advantaged the firm.
Samsung anticipates this sturdy requirement to stay steady all through this year as a result of the requirement to supply of fresh data hubs as well as high-end mobile makes, and aims to carry on to boost its fabrication to meet the anticipated need.