Samsung tips best quarterly profit in over three years

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.

Samsung Electronics said Friday, April 7, 2017 its first-quarter profit jumped 48 percent likely due to smartphone componen.

The company estimated its revenue in the first quarter this year would reach 50 trillion won, up 0.44 percent on-year.

However, despite rough recent quarters, Samsung has been able to generate strong results, owing to its components business.

On Thursday, April 6, Samsung shared that it expects its overall operating profit to touch 9.9 trillion won (approximately $8.8 billion) in Q1 2017.

Lee, vice chairman of Samsung Electronics Co., appeared at the Seoul Central District Court, along with four other senior company executives, Yonhap News Agency reported.

Samsung's Q1 earnings a year ago, meanwhile, stood at 49.78 trillion won (~$43.90 billion), with a 6.68 trillion won (~$5.89 billion) operating profit.

Lee was arrested in February over his alleged role in a corruption scandal.

Lee, who was arrested in February, has been charged with paying almost US$40 million to the now-impeached president's close friend Choi Soon-Sil, allegedly as bribes to secure policy favours.

Lee Jae-Yong denies charges of embezzlement and perjury.

Galaxy C7 Pro is most widely speculated as today's launch because Galaxy C5 Pro made its debut only last month while the Galaxy C7 Pro was launched in China in January. Samsung shares have gained ground despite the younger Lee's detention. Some researchers believe the smartphone will set a new first-year sales record.

Samsung did not announce the performance of each business division. Even the release of the iPhone 8 is likely to boost the margin for Samsung as Apple reportedly ordered some 70 million units of Samsung's OLED panels this year to upgrade its display. Problems began past year with widespread reports of exploding Galaxy Note 7 handsets.

  • Carolyn Briggs