2016 will be a year to remember for Samsung, and not in a good way. Note 7’s explosion and then the mass call back hurt Samsung a lot. However, despite all that, Samsung shares still hit an all-time high, according to recent reports!
Samsung shares still hit record high despite Note 7 incident!
We all know that 2016 was not a very nice year to Samsung. From a strong start to the year, Samsung gave much expectation with the introduction of Note 7. However, all that turned to massive disappointment, because of the Note 7 explosions leading to the mass recall. That did hurt Samsung a lot, in terms of sales and reputation. However, it looks like the standings of the company in the financial market has not been affected. Recent reports said that Samsung shares has risen the past few weeks, and has reached an all-time high of 1.86 million won (~ $1,550) a share. That is an increase of 2.82% (51,000 won) from the previous trading day.
The surprising growth of Samsung shares can be down to its unexpected earnings during the fourth quarter of 2016. Yes, the company had to deal with the losses from the Note 7 recall. However, the company’s other products, including displays and chips, sold extremely well. They sold so well that it became enough to make up for the Note 7 loss. Furthermore, Samsung’s fourth quarter operating profit is expected to show a 50% yearly increase!
The full earnings report of Samsung is expected to be released very soon, by the company itself. As for Samsung shares, they are expected to gain even more value in the market, as the unveil of the next Samsung flagship, Galaxy S8, draws near. From the look of it, the worst seems to have passed for Samsung, as the company is still moving forward with new devices, starting with the Samsung Galaxy S8. That is certainly a good sign for the company.
Samsung shares stay high: The worst has passed
With everything that has happened, it is very encouraging for Samsung to have achieved all these in recent times. Hopefully, the company can continue giving us better products in the future. Are you looking forward to Samsung Galaxy S8?