Samsung Electronics records a jump in net profit

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"The stock split has nothing to do with the company's succession process".

"The stock split comes as a surprise to me", said Kim Sung-soo, a fund manager at LS Asset Management who holds Samsung shares, noting that Samsung previously had shrugged off investors' calls to split its shares. Therefore, this will never have an impact on the company's fundamentals. According to the company, there is KRW 65.98 trillion in consolidated revenue and KRW 15.15 trillion in operating profit for the fourth quarter of 2017.

While the profit was expected, the firm's shares surged more than 8 percent after it unveiled the stock split.

The benchmark Korea Composite Stock Price Index (KOSPI) slipped 1.28 points, or 0.05 percent, to close at 2,566.46.

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Despite the record profits in Q4, Samsung's mobile division saw a decrease in smartphone shipments during this period "due to the lineup optimization of low-end models". For the full year, net profit was also a record at 42.19 trillion won, up 85.6 percent on 2016, on sales of 239.58 trillion won. The technology needs powerful chips to validate transactions.

The revenue was up 24 percent from a year earlier, while the operating profit jumped 64.3 percent.

This year, Samsung will continue its focus on chipsets, cloud, AI/IoT and automotive, along with plans to release a foldable smartphone.

However, the outlook for Samsung's smartphones was uncertain amid competition from Chinese rivals in markets like Europe and Asia, said Tom Kang, research director at data provider Counterpoint. The semiconductor division logged 10.9 trillion won (10.17 billion USA dollars) of operating profit on revenue of 21.11 trillion won (19.69 billion US dollars) in the fourth quarter.

Samsung has transformed its position in the chipmaker industry.

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