South Korean court holds 1st trial on Samsung heir over bribery charges

Its first-quarter operating profit neared the historic high of 10.2 trillion won in the third quarter of 2013 by adding 7.4 percent to the strong fourth quarter on a spike in both global chip prices and demand.

Investors and analysts expect Samsung to report its best quarterly profit in April-June, with the Galaxy S8 smartphone hitting the market on April 21 in Samsung's first premium device launch since the Note7's withdrawal in October.

The first-quarter revenue was 50 trillion won, up 0.44 percent from a year earlier. That could help it stage a comeback in the wake of a string of controversies.

The forecast will come as welcome news to the South Korean giant after a torrid period in which it had to ditch its flagship Galaxy Note 7 after several battery fires.

Lee Jae-yong, the vice president of the Samsung Corp. conglomerate, has also been charged with bribing a friend of disgraced former president Park Guen-hye.

The good news for Samsung comes even in the wake of the explosive Galaxy Note 7 handsets and a political bribery and corruption scandal which is now on-going in South Korea. Lee, the vice chairman of Samsung Electronics Co., left the conglomerate on March 1 after it dismantled its corporate strategy office - a nerve center long considered an instrument for the founding Lee family's management of the companies.

Nevertheless, the latest financial figures show how Samsung has managed to overcome all the obstacles after messing up with one of its flagship products previous year. During the huge weekly rallies protesting the government that continued for months, demonstrators pressed for the arrest of Lee and other business leaders.

"We are very positive about the new phone".

It is still interesting to see how well both companies will fare as far as its smartphone division goes.

South Korea's brokerage houses estimated the sales of the Galaxy S8 and the Galaxy S8 Plus to be around 43-60 million units, Yonhap news agency reported.

After Europe, India, Africa and the U.S. (Sprint), Samsung Galaxy Note 5 users in South Korea can now speak the same language as Galaxy S7 and S7 Edge users - Android 7.0 Nougat.

Members of Asiana Airlines will be able to buy the special edition Samsung Galaxy S8 and S8 Plus at a discounted price just by using their mileage points.

  • Arturo Norris


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