(REUTERS) — As Samsung bounces back from the dark days of the exploding phone saga, things are looking a lot brighter going forward.
The South Korean tech giant on Friday (January 6) saying fourth quarter operating profit looks good to come in at just under 8 billion dollars…
That’s 50 percent higher than the year before, despite a 2 billion dollar hit from the infamous Galaxy Norte 7, which was pulled from shelves around the world in 2016.
The outlook points to a much quicker recovery in the key mobile division than analysts expected, with memory chip and LED screen sales propping up the bottom line.
Revenue on the year is expected to dip very slightly, but that’s a drop in the ocean to shareholders who pushed Samung stock up more than 40 percent last year, betting on a surge in demand for smartphone parts.
Samsung’s detailed earnings come out at the end of January and if Friday’s forecast is anything to go by, it looks like those investors were probably right.
