Despite the huge Galaxy Note 7 recall, Samsung Electronics announced an excellent quarterly report for Q4 2016. The company's operating profits were $7.9 billion - 50% higher than Q4 2015, and the company's highest profits in over three years.

Samsung GS7 and GS7 Edge at MWC photo

The main drivers of Samsung's earnings were good chip and display sales - combined with a weak Korean Won rate. The Galaxy S7 and S7 Edge (and other mobile phones) enjoyed solid sales as well.

Samsung says that its Display Panel segment enjoyed increased OLED panel shipments and improved earnings from large-sized LCD TV panels. Cost reduction of OLED panels and customer diversification enabled Samsung to improved its OLED earnings. In 2017 Samsung aims to improve earnings by increasing its high-end flexible OLED shipments.

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