Samsung forecasts best quarterly profit in over three years as chips soar


The strong showing underscores the strength of a business that's yet to recover from the Galaxy Note 7 debacle and the arrest of its vice chairman, Lee Jae-yong.

Prosecutors say he gave 43bn Korean won ($38m; £30m) to President Park Guen-hye's friend for political favours.

Several experts on the Korean legal system told The Wall Street Journal that a prison sentence of at least three years is highly likely if Lee is convicted, but it could be significantly longer if he is found guilty of all charges.

South Korea's brokerage houses estimate the sales of the Galaxy S8 and S8 Plus to be around 43-60 million units.

The Samsung Galaxy C7 Pro will go up for sale on April 11 for Rs. 27,990.

Prosecutors allege 48-year-old Mr Lee used more than £30m in company funds to bribe Ms Park to help ensure a smooth leadership transition at Samsung after his father suffered a heart attack in 2014.

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Investors and analysts expect Samsung to report its best-ever 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 Note 7's withdrawal in October.

Even as the Samsung de facto leader and four other executives face corruption charges, the latest earnings preview showed the company's business is thriving.

The hefty profits highlight Samsung's resilience after the embarrassing recall of its fire-prone Note 7 smartphone past year.

In this March 24, 2017 photo, a woman walks past a logo of Samsung Electronics in Seoul, South Korea.

LG has estimated that its first-quarter operating profit rose 82 percent to its highest in almost eight years. Apart from consumer electronics where it sells Smartphones, TVs, ACs etc. Samsung is also world's largest memory chip maker which is why its deal with Qualcomm saw it suck all the Qualcomm Snapdragon 835 chipsets in the initial phase.

As the Galaxy Note 7 was discontinued, users who wanted to purchase the phone opted for a Galaxy S7 device instead.