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  HOME | Business & Economy (Click here for more)

Samsung Electronics’ Net Profits Rose 5.12% in 2018, but Fell in Q4

SEOUL – The South Korean multinational Samsung Electronics recorded net profits of 44.34 trillion won ($39.8 billion) in 2018, 5.12 percent more than in 2017, the company announced Thursday.

Only in the fourth quarter of the year, the company’s net profit fell 30.9 percent compared to the same period in 2017, to $7.6 billion.

Annual sales grew 1.75 percent in 2018 compared to the previous year, to $219 billion.

In the period between October and December, the sales of the South Korean giant company reached $53.26 billion, 10.18 percent less than in the same period of 2017.

Samsung Electronics said in a statement that the bad results of the fourth quarter were affected by a decrease in demand for microprocessors.

The data was nevertheless well received on the Seoul Stock Exchange, as the company’s shares had an advance of more than 1 percent half an hour after the opening of the market.

 

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