Samsung Electronics on Friday estimated first-quarter operating profit at 9.9 trillion won ($8.8 billion), a whopping 48.2 percent gain from the year-ago period in its second largest-ever quarterly performance led by a boon in memory chip business. The Korean tech giant posted its earnings estimate for the first quarter of this year, with sales amounting to 50 trillion won, or roughly 44 billion USA dollars.
The South Korean OEM also expects to maximize its Q1 2016 sales from 49.78 trillion won, (approximately $44 billion) in 2016, to 50 trillion won (approximately $44.2 billion) in Q1 2017.
The company on Thursday announced that its Q1 2017 operating profits were around $8.7 billion and total sales stood at $44.1 billion which is nearly 50 percent increase when compared to Q1 2016.
These results come before the launch of its new Galaxy S8 flagship phone (which looks set to be a hit) - it goes on sale on April 21st. He added that sales of mid-to-low tier smartphones also helped the mobile business remain profitable. The report is a counter to the company's costly failure previous year with the fire-prone Galaxy Note 7 device.
While there might be some expected cause for concern, the new batteries have undoubtedly undergone Samsung's latest gamut of quality tests to ensure safety for its consumers. This means that the 5.7-inch display that we've consistently been seeing on the company's Galaxy Note series might cease to exist in the future.
The South Korean firm's Galaxy Note 7 smartphone was plagued with problems.
Lee's defence lawyers however said the payments to Choi were charitable contributions for sports and culture development that Samsung was obliged to make under pressure from officials, and not bribes. The date seen on the phone's lock screen indicates that the pictures were taken Friday, April 7th, and the specs state that it's running a build of Android 7.0 from February 2017 - well after Samsung issued a global recall of the Note 7.
Lee, who was arrested in February, has been charged with paying almost $40 million to the now-impeached president's close friend Choi Soon-Sil, allegedly as bribes to secure policy favours.