South Korean electronics giant Samsung has revealed record-high sales figures for last year, with a total operating profit of $50 billion (KRW 53.65 trillion). The company released its Q4 results today, alongside numbers for the whole of 2017. In the last three months of the year, Samsung amassed $61.54 billion (KRW 65.98 trillion) in consolidated revenue, which amounted to $14.13 billion (KRW 15.15 trillion) in operating profit. Read More
LG Electronics released its fourth quarter and full-year 2017 financial results this morning, and while the news is mostly very good for the company, its mobile division continues to suffer losses.
LG took in $55.4 billion in revenue for 2017, an increase of 10.9% over 2016 and the highest ever for the company. Profitability increased by 85% over last year at $2.23 billion. For the fourth quarter alone, LG saw a 15% growth over Q4 2016 revenues with $15.3 billion, and a profit of $330.9 million, which we reported when the company released its preliminary results earlier this month. Read More
LG quietly let it be known today that they will emerge from the fourth quarter of 2017 with a $343.2 million profit and that they expect a yearly profit increase of 84.5% over 2016. Read More
It's that time of year when financial statements start to circulate. After Q2 reports of record earnings for Samsung and big losses for LG, it's now Huawei's turn to take the floor. In a statement yesterday, the Chinese company announced its half-year figures, headlined by a 36.2% year-on-year increase in sales revenue, totaling CNY105.4 billion. Read More
Samsung posted its earnings for Q3 2016, and it is not as pleasant as it was three months ago. For the period ending September 30, 2016, total revenue was 47.82 trillion KRW ($42.01 billion USD), a decrease of 3.87 trillion KRW ($4.57 billion USD) from this point last year. Without going too much further into the financial details (I get excited about financial results, okay?), we can all guess the reason for the decline. The IT & Mobile Communication Division is what dragged Samsung down, but its other divisions showed some good results. The Consumer Electronics Division's favorable sales in SUHD TVs and home appliances are especially of note in the report. Read More
Bucking the status quo of American wireless companies seems to be working for Legere and Company. For the first three months of 2014 T-Mobile added 2.4 million new wireless customers, according to the company's financial report published this morning. In the crucial post-paid segment (as opposed to the less reliable prepaid segment) T-Mobile added 1.3 million new subscribers.
While T-Mobile is still a long way away from 800-pound gorillas AT&T and Verizon Wireless, it's safe to say that the lower prices and ceaseless "Uncarrier" promotions are having an effect. For example, Verizon added only 549,000 new wireless customers in the same timeframe, while AT&T added just over one million - T-Mo beat them both in terms of new post-paid customers. Read More