Samsung forecasts a fourth quarter profit of 15.1 trillion won (12 billion euro), which is a record result for the company and almost two thirds up from past year.
For all of 2017, the South Korean tech giant raked in an operating profit of 2.4 trillion won, marking the second-highest performance ever posted by the firm.
The preliminary result for Samsung's operating profit was 53.6 trillion won (50.3 billion USA dollars) in 2017, topping the previous record yearly high of 36.79 trillion won (34.5 billion US dollars) tallied in 2013.
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Sales were anticipated to have surged 23.8 percent to reach 66 trillion won over the cited period, it said.
Tech shares had a bearish day ahead of the earnings season as analysts raised concerns over the impact of a stronger won and lower chip prices on major exporters.
Full-year sales were expected to edge up to 239.6 trillion won, up 18.7 percent from 201.9 trillion won the previous year, Samsung said. The tech giant is expected to elaborate on the results in its finalized report, which will be delivered later this month.
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Analysts said LG benefitted from strong shipments of premium organic light emitting diode (OLED) TVs along with other high-end washers and refrigerators.
The operating profit estimate fell short of the market consensus of 471 billion won compiled by Yonhap Infomax, the financial arm of Yonhap News Agency, through a survey of 17 brokerage houses.
The local stock market opened higher taking a cue from overnight US gains, but the index slipped in afternoon trades to close lower. Samsung is said to be working on a folding smartphone set ...
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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.