18. Geographic and Segment Information

The Company had previously reported its results of operations under one operating segment. During the second quarter of 2015, organizational changes were made to (i) realign the Company’s businesses and organizational structure and (ii) streamline and consolidate certain business processes to achieve greater operating efficiencies. In furtherance of these objectives, the Company combined its Display Solutions and Power Solutions business lines into a new segment called Standard Products Group. Beginning in the second quarter of 2015, the Company began reporting its financial results in two operating segments: Semiconductor Manufacturing Services and Standard Products Group. During the third quarter of 2015, the Company changed the name of its Semiconductor Manufacturing Services segment to Foundry Services Group. The Company’s chief operating decision maker is its Chief Executive Officer who allocates resources and assesses performance of the business and other activities based on gross profit. The two newly established operating segments were managed prospectively and all prior period amounts related to the segment change have been retrospectively reclassified to conform to the new presentation.

The following sets forth information relating to the operating segments (in thousands):


	Year Ended December 31,
	2017		2016		2015
Net Sales
Foundry Services Group	$	320,089	$	273,961	$	290,775
Standard Products Group
Display Solutions		209,539		281,967		207,480
Power Solutions		149,836		131,468		134,814

Total Standard Products Group		359,375		413,435		342,294
All other		208		573		643

Total net sales	$	679,672	$	687,969	$	633,712


	Year Ended December 31,
	2017		2016			2015
Gross Profit
Foundry Services Group	$	95,458	$	69,412		$	66,175
Standard Products Group		92,227		87,194			68,094
All other		208		(380	)		595

Total gross profit	$	187,893	$	156,226		$	134,864

The following is a summary of net sales by geographic region, based on the location to which the products are billed (in thousands):


	Year Ended December 31,
	2017		2016		2015
Korea	$	279,883	$	219,618	$	241,715
Asia Pacific (other than Korea)		322,595		391,875		316,562
U.S.A.		35,089		33,201		51,164
Europe		41,109		42,274		23,461
Others		996		1,001		810

Total	$	679,672	$	687,969	$	633,712

Net sales from the Company’s top ten largest customers accounted for 57%, 64% and 64% for the years ended December 31, 2017, 2016 and 2015, respectively.

For the year ended December 31, 2017, the Company had one customer that represented 15.6% of its net sales. For the year ended December 31, 2016, the Company had two customers that represented 23.5% and 11.4% of its net sales, respectively. For the year ended December 31, 2015, the Company had two customers that represented 15.2% and 11.0% of its net sales, respectively.

97% of the Company’s property, plant and equipment are located in Korea as of December 31, 2017.