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Samsung Electronics Warns Of Political Risks As Chips Boost Fourth-Quarter Profit

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy Omniscient Member

Ron Burgundy

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FILE PHOTO - An exchanged Samsung Electronics' Galaxy Note 7 is seen at the company's headquarters in SeoulBy Hyunjoo Jin SEOUL (Reuters) - Samsung Electronics Co Ltd on Tuesday said it expects profit growth in 2017 despite challenges arising from political uncertainty, after record chip earnings glossed over the Note 7 smartphone fiasco in the fourth quarter. The South Korean tech giant and Apple Inc rival is embroiled in an influence-peddling scandal surrounding President Park Geun-hye, with five Samsung Group executives already grilled by prosecutors and investigations ongoing. "The uncertain business environment such as the changing political landscape in Korea and overseas poses a challenge to the execution of mid- to long-term business strategies, such as M&A and investment decisions and developing new growth engines," Samsung Electronics said in a statement.




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