It seems like the Samsung Galaxy Note 7 fiasco last year eventually turned out to be a "blessing in disguise" for the renowned South Korean electronics company. It is worth noting that Samsung Electronics' operating profit in the third quarter of 2016 significantly went downhill at the height of the Galaxy Note 7's overheating issue and ultimately, the doomed smartphone unit's recall worldwide.

But now, it's clear that Samsung has already gotten past last year's debacle. According to Samsung's fourth quarterly report in 2016 and overall full-year result, which was just released yesterday on their official website, their operating profit in the fourth quarter of 2016 skyrocketed to 9.22 trillion Korean Won - the highest one after three years, closing 2016 with a full-year operating profit of 29.24 trillion Korean Won. Meanwhile, Samsung's fourth quarter revenue reached 53.33 trillion Korean Won - closing 2016 with 201.87 trillion Korean Won in full-year revenue.

In other news, the continuous demand for Samsung Electronics' hardware components on devices other than phone handsets is considered by some as a great contributor in their financial success last year despite the Samsung Galaxy Note 7 fiasco, as reported on CNET. Aside from that, their venture in the semiconductor industry now makes them a key player when it comes to chipsets and processors - even closely following behind Intel as the second biggest processor maker in the world.

Moreover, anyone's guess regarding the Samsung Galaxy Note 7 fiasco was finally addressed last Sunday in a press conference by Samsung at Seoul, Korea - bringing closure to what seems like a never-ending issue with the company. Samsung Electronics head of mobile business D.J. Koh stated that the overheating Galaxy Note 7 units were due to faulty batteries, as well as two significant flaws behind it: the battery design (too small for the battery components) and battery production (too rushed to meet consumer demands).

Topics Samsung, Samsung Electronics, Samsung Galaxy Note 7, Smartphones