Samsung targets record fourth quarter profit

Samsung Electronics profit guidance misses expectations as won weighs

Based on the guidance, Samsung's full-year operating profit is estimated at 53.6 trillion won, compared with 29.2 trillion won in 2016, putting the tech titan on course for a record annual profit.

Samsung Electronics expects its Q4 operating profit to grow 63.8 percent year-on-year to KRW 15.1 trillion (USD 14.1 billion).

The results were below analysts' expectations.

The company did not provide details for business divisions.

For all of 2017, the South Korean tech giant raked in an operating profit of 2.4 trillion won, marking the second-highest performance ever posted by the firm.

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According to the earnings guidance that was recently released, the last quarter of 2017 was a great one for Samsung.

Fourth-quarter sales were projected to have jumped 23.8 percent year-on-year to 66 trillion won. The tech giant is expected to elaborate on the results in its finalized report, which will be delivered later this month. Trade volume was moderate at 359.65 million shares worth 7.23 trillion won (US$6.78 billion), with losers outnumbering gainers 431 to 382. The local currency has been appreciating for months amid the global trend of the weakening US greenback.

Lee Seung-woo, a researcher at Eugene Investment and Securities, expected Samsung to continue with solid earnings in the first-quarter of this year, though the strong Korean won versus the USA dollar could be a drag.

LG did not offer a net profit estimate for the fourth quarter, nor breakdowns for each segment.

South Korean stocks finished lower on January 9 due to tech losses, triggered by Samsung Electronics' weaker-than-expected earnings estimates due to the strengthening local currency, analysts said.

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