Samsung Electronics forecasts fourth-quarter profit at over three-year high

Samsung Electronics' Galaxy S7 is displayed at its headquarters in Seoul, South Korea, January 5, 2017. Picture taken on January 5, 2017. REUTERS/Kim Hong-Ji TPX IMAGES OF THE DAY

SEOUL: Samsung Electronics Co Ltd said on Jan 6 its fourth-quarter profit likely leapt 50% from a year earlier to its highest level in more than three years, beating expectations on strong chip sales and a smartphone rebound. 

The upbeat outlook comes despite a slight fall in revenue and the anticipated US$2.1bil (RM9.39bil) profit hit from the withdrawal of the fire-prone Galaxy Note 7 premium smartphone in October.