Samsung's profit jumps 50 percent despite Galaxy fiasco

Samsung Electronics Co. said Friday that its profits in the last quarter of 2016 surged 50 percent to the highest level in more than three years, despite the Galaxy Note 7 fiasco. Analysts expect Samsung's chip business to be responsible for $3.8 billion of its operating income. Samsung's numbers were boosted by a weak Korean won, as well, since it only takes US dollars for component sales.