Melting smartphones didn’t stop Samsung
 

Profit leapt by 50 per cent

Samsung’s bottom line was not really harmed by the Note 7 fiasco and the outfit saw its fourth-quarter profit leap 50 percent from a year earlier to its highest level in more than three years.

The announcement beats expectations and is thanks to strong chip sales and, ironically, a smartphone rebound.

Samsung did take a $2.1 billion profit hit from the withdrawal of the fire-prone Galaxy Note 7 premium smartphone in October. But that was not enough to stop Samsung.

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