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Chips, semiconductors compensate for Samsung Note 7 losses

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Seoul:  Thanks to its components (mainly chips) and semiconductors business, Samsung Electronics has posted an operating profit of 29.2 trillion won ($25 billion) in 2016, despite losses suffered by its mobile division due to the Galaxy Note 7 fiasco. Samsung posted a fourth quarter operating profit of 9.2 trillion won ($7 billion), representing a year-on-year increase of 50.11 per cent, thanks to gains from its semiconductor branch, Efe news reported on Tuesday.

This figure is also 77.34 per cent higher than that of the July-September quarter, when Samsung’s operating profit was affected by incidents of Galaxy Note 7 smartphones exploding, and the subsequent recall of the model. The fiasco caused the company an operating loss of 6.1 trillion won ($5 billion). According to a report in tech website CNET, even as Samsung faced a hit of more than $5 billion, the company posted its best operating profit in three years with the help of its strong demand for components that go inside mobile phones and other electronic devices.

“For 2016, Samsung achieved solid results despite the Note 7 discontinuation in the second half as a result of continuous efforts during past two to three years to strengthen its component business competitiveness by focusing on value-added products and advancing its DRAM and V-NAND memory businesses, as well as its OLED display operations,” Samsung said in a statement. By comparison, Samsung reported its worst operating profit in two years in the third quarter, the period when it recalled and then stopped the production of Note 7 device.

“Samsung’s mobile division, the division responsible for the Note 7, reported an operating profit of $87.8 million in that quarter — a decline of about 96 per cent and its lowest in nearly eight years,” CNET reported. The South Korean tech giant achieved an annual net profit of 22.73 trillion won in 2016 ($19 billion), an increase of 19.2 per cent from 2015. In the October-December quarter alone, net income was 7.09 trillion won ($6 billion), a year-on-year increase of 120.19 per cent, and 56.51 per cent higher than the third quarter of 2016.

“Fourth quarter earnings were driven by the components businesses, mainly the memory business and the display panel segment,” Samsung said in a statement. The company also highlighted the positive impact of a stronger US dollar against the Korean won. Samsung said its fourth-quarter sales rose 0.3 per cent year on year to 53.3 trillion won, and also announced a share re-purchase worth about 9 trillion won ($7 billion).

Investors were pleased by the results, with Samsung’s shares trading 0.37 per cent higher one hour after the morning session began on the Korea Stock Exchange. The data released was a relief for Samsung following the Galaxy Note 7 fiasco and the company’s involvement in the “female Rasputin” corruption scandal that has rocked South Korea. The latter prompted prosecutors to request the arrest of Samsung Group’s president and Samsung Electronics’ vice president, Lee Jae-yong. The court later ruled against the arrest warrant of the Samsung heir, allowing the country’s largest family-run conglomerate to avoid another potential disaster.

Meanwhile, after revealing that faulty batteries in Galaxy Note 7 smartphone caused devices to catch fire, Samsung Electronics on Monday announced new and enhanced quality assurance measures to improve product safety. The new safety measures include enhanced eight-point battery safety check that would address safety from the component level to the assembly and shipment of devices. Samsung has also formed a battery advisory group of external advisers to ensure battery safety and innovation.

 

Business

Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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