The cryptocurrency boom helped Samsung post a record $50.2 billion profit in 2017 (SSNLF)

JK ShinDavid Ramos/Getty Images

  • Samsung posted a record $50.2 billion (£35.4 billion) profit in 2017.
  • The crypto boom has increased demand for chips.
  • The company's mobile division, on the other hand, saw a 3% decline year-over-year, with profits stopping at $2.25 billion (£1.6 billion).
  • The company also announced its first stock split.


Samsung Electronics Co Ltd announced on Wednesday its first stock split and said it expects demand for semiconductors to remain strong in 2018, as it posted record annual profit driven by a so-called memory chip "super-cycle."

The tech giant's stock split is the latest in a series of moves to bolster shareholder returns, including 5.8 trillion won ($5.4 billion/£3.8 billion) in annual dividends and 9.2 trillion won in share buybacks and cancellations in 2017.

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