Samsung Electronics warns of political risks as chips boost fourth-quarter profit

By Hyunjoo Jin SEOUL (Reuters) – Samsung Electronics Co Ltd on Tuesday said it expects profit growth in 2017 despite challenges arising from political uncertainty, after record chip earnings glossed over the Note 7 smartphone fiasco in the fourth quarter. The South Korean tech giant and Apple Inc rival is embroiled in an influence-peddling scandal surrounding President Park Geun-hye, with five Samsung Group executives already grilled by prosecutors and investigations ongoing. "The uncertain business environment such as the changing political landscape in Korea and overseas poses a challenge to the execution of mid- to long-term business strategies, such as M&A and investment decisions and developing new growth engines," Samsung Electronics said in a statement.

Original story here.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply