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Samsung Misses Targets

The stronger won led to the South Korean giant missing its sales targets.

Editor’s Remarks: The company reported lower-than-expected profit due to both a stronger South Korean won and weaker performance in its memory chip business. The South Korean won gained around 7% in the final quarter of 2017 against the dollar, which eroded profits abroad. However, demand increased for organic light-emitting diode (OLED) screens, which boosted sales in that quarter. Samsung is currently the market leader in OLED screens and supplies them for Apple’s iPhone X, despite the two companies waging a war for the smartphone sector. Samsung saw its shares fall 1.6% on the news and is due to publish its final results later this month.

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