Samsung reported its fourth quarter and fiscal year 2017 financial results. Q4 Sales were 65.98 trillion won ($61.75 billion), 24% growth compared to the 53.33 trillion won reported in Q4 of 2016. Net Income was 12.26 trillion won ($11.47 billion), a 73% growth compared to 7.09 trillion won reported in Q4 of 2016. For the full year sales were 239.58 trillion won ($224.22 billion) compared to 201.87 trillion won and net income was 42.19 trillion won ($39.49 billion) compared to 22.73 trillion won reported in 2016.
The display panel business, which manufactures OLED and LCD screens, saw increased shipments of OLED panels for premium smartphones, but profitability for LCD panels decreased due to weak seasonality, which dampened sales and ASP. Revenue jumped 23.71% to 65.98 trillion won ($61.6 billion), from 53.33 trillion won ($49.8 billion) in the prior year.
