Samsung Electronics announced on April 27 its financial results for the first quarter ending March 31, 2017. It chalked up sales of 50.55 trillion won and operatingprofit of 9.9 trillion won, up 1.5 percent and 48.2 percent year on year.
Bybusiness unit, the DS division responsible for electronic components, recorded an operating profit of 7.59 trillion won, accounting for 77 percent in the company's total operating profit.
TheCE division in charge of TVs and home appliances, gained an operating profit of 380 billion won, while the smartphone-making IM division achieved 2.07-trillion-won operating profit.
Asthe releasing of its flagship smartphone Galaxy S8 was delayed for about one month compared to the previous 2016 release date of the Galaxy S7, the IMdivision saw its sales and operating profit fall by 4.1 trillion won and 1.82trillion won, respectively, year on year.
SamsungElectronics expected its semiconductor business to show stronger performance inthe second quarter of this year.
Korea Investment Corporation (KIC) will open its third overseas office in Singapore as early as August in its push for alternative investments in Asia, according to a local newspaper report. The opening of a foreign office will come six years&hellip
South Korea’s Hanwha Asset Management Co. Ltd. will launch three global funds for infrastructure, real estate and private equity investments, with $1 billion commitments from two insurance units of its parent group. Hanwha Life Insurance Co. Ltd. and Hanwha General&hellip
An investment firm of South Korea’s Samsung Life Insurance Co. Ltd is forming a blind-pool real estate fund worth around 500 billion won ($443 million) with commitments from other Samsung financial units to acquire a building of the Organisation for Economic Co-operation&hellip