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(LEAD) Samsung SDI suffers Q4 operating loss over Galaxy Note 7 woes

All News 16:51 January 24, 2017

(ATTN: ADDS details in last 4 paras)

SEOUL, Jan. 24 (Yonhap) -- Samsung SDI Co., a maker of electric car batteries, said Tuesday it posted an operating loss for the fourth quarter of last year, hit by the global recall of the Galaxy Note 7 smartphones.

Samsung SDI, believed to be a supplier for the discontinued Note 7 smartphones, reported an operating loss of 58 billion won (US$49.8 million) for the October-December quarter last year, the company said in a regulatory filing.

Samsung SDI's battery cells unveiled at the 2017 Detroit Motor Show. (Yonhap file photo provided by Samsung)

Samsung SDI, an affiliate of Samsung Electronics Co., posted fourth-quarter sales of 1.3 trillion won, up 3.57 percent from the same quarter in 2015.

For all of 2016, Samsung SDI reported an operating loss of 926.3 billion won on sales of 5.2 trillion won, according to the filing.

Besides losses over the Note 7 recall, Samsung SDI has been grappling with falling battery orders from electric cars in recent quarters.

With the fourth-quarter loss, Samsung SDI reported an operating loss for the fifth consecutive quarter.

In a statement released on Monday, Samsung SDI said it would supply batteries for Samsung Electronics' next flagship smartphone.

For 2017, Samsung SDI said it plans to increase profitability by making efforts to win electric-car battery orders.
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