Samsung Q4 operating profit grows more than 63%

Samsung Electronics fourth-quarter sales were projected to have jumped 23.8 percent year-on-year to 66 trillion won

Tentative consolidated revenues for the fourth quarter of 2017 is almost KRW 16.9 trillion with an operating profit of KRW 366.8 billion.

SK Telecom, the nation's biggest mobile carrier, increased 3.76 percent to 276,000 won, and No. 3 LG Uplus jumped 7.83 percent to 15,150 won. Revenues are expected to be 14.8 percent higher with operating profit turning from a loss to a gain from the same quarter one year prior.

The company is set to release its final earnings report later this month.

Based on the guidance, Samsung's full-year operating profit is estimated at 53.6 trillion won, compared with 29.2 trillion won in 2016, putting the tech titan on course for a record annual profit.

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Previous coverage: After years of flexible smartphone display rumors, we've now reached 2018, where we probably only have another year of rumors to go.

South Korean stocks finished lower on January 9 due to tech losses, triggered by Samsung Electronics' weaker-than-expected earnings estimates due to the strengthening local currency, analysts said.

Lee, who was found guilty in August of bribery, perjury and other charges relating to payments made by Samsung to ousted president Park Geun-Hye's secret confidante Choi Soon-Sil, is appealing his five-year sentence and says he is innocent. Its operating profit for the entire year would exceed $50 trillion won (around $46 billion), which would be a first for the tech giant.

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