Samsung is the largest smartphone maker in the world.
But what about the rest of the industry?
In this quarterly earnings call, CEO JK Shin explains the company’s growth, revenue, and business strategies.
Samsung shares were trading down at $1,621.80 by the end of the call.
Read moreOn the revenue side, the company reported a record $2.1 billion profit for the quarter.
That’s up 12 percent from a year ago and comes in just over two weeks after the company announced a $1.6 billion purchase of a controlling stake in Apple.
The company also reported that its smartphone revenue fell 2 percent in the quarter, from $8.8 billion to $7.9 billion.
The company’s profits fell as well.
Its revenue grew 5 percent in North America and 4 percent in Europe, but the majority of revenue growth came in China.
The revenue for the year ended December 31 was $21.7 billion, or about 20 percent of the $40.3 billion that Samsung reported last year.
That was a record-breaking quarter for Samsung.
The quarter also saw Samsung earn $1 billion in net income on revenue of $14.5 billion.
That profit came on top of $2 billion in pre-tax income and $2 million in dividends from the parent company.
Samsung is paying out dividends on its stake in Korean giant Samsung Electronics.
Samsung’s net income totaled $2,857 million for the 12 months ended December 30.
That beat the previous record of $1 million for Q1 of 2017.
That came on the heels of the company reporting $2bn in pre-$1.7bn cash, cash equivalents, and short-term investments.
The biggest hit to Samsung’s financials came from its share buyback program.
Samsung sold off 1.9 million of its stock at a discount of $10 per share.
That is a pretty big price to pay to buy back shares.
The stock’s value plunged by more than 30 percent in one day.
That puts the company in a tough spot to make a profit on the buyback, which will likely be phased in over the next year or two.
Samsung also announced plans to make its Galaxy S8 and Galaxy S9 smartphones available on the Galaxy S7, Galaxy S6, Galaxy Note5, and Galaxy Note6.
That means Samsung has plenty of room to increase sales if it continues to build the sales numbers it showed in the first quarter.
The new phones, which launch in February, will have Samsung’s S Pen stylus, a stylus powered by the new fingerprint sensor.
The new S Pen also has a curved display, and will be thinner than the Galaxy Note7.
Samsung says the new stylus will be better at picking up the finer details in photos and videos, while also being able to handle high-resolution text and photos.
The Galaxy S5 was Samsung’s best-selling smartphone in 2016, and its latest smartphone will be a much better performer.
It also has more battery life, and has a bigger screen.