Samsung's profit soars after recovery from Note7 debacle
08 April, 2017, 09:50 | Author: Nadine Todd
The global memory chip leader said first-quarter operating profit was likely 9.9 trillion won (RM39.02 billion), compared with an average forecast of 9.4 trillion won from a Thomson Reuters survey of 18 analysts.
Samsung's consolidated sales are expected to be around 50 trillion won (~$44.09 billion), with operating profits at 9.9 trillion won (~$8.73 billion).
That would be itsbest quarterly profit in nearly four years and shows a recovery from the Galaxy Note 7 fiasco.
Lee Jae-yong, 48, a vice chairman at Samsung Electronics and the only son of its chairman, was arrested and indicted in February on bribery, embezzlement and three other charges that could entail at least five years in prison if he is proven guilty.
The company's de-facto leader, Lee Jae-yong, made his first appearance in court at his trial on corruption charges Friday.
"The essence of this case is, simply put, the chronic and typical collusion between government and business in our society", special prosecutor Park Young-soo, who spearheaded the pre-trial investigation into Samsung and Lee, said as the hearing began.
LG did not elaborate on its earnings estimates and will provide detailed financial results at end-April.
Both Samsung and LG, meanwhile, are anticipated to post healthier performances for the second quarter, helped by the full-fledged sales of their respective flagship smartphones. Samsung succeeded in the commercial production of DRAM chips on 10-nanometer class technology for the first time in the industry and began mass-producing 8-gigabit double-data-rate 4 (DDR4) DRAM chips on 10-nanometer (nm) process previous year.
It led to the suspension of President Park Geun-hye for allegedly receiving bribes.
A woman walks by an advertisement of the Samsung Electronics Galaxy S8 and S8+ smartphone in Seoul, South Korea, Friday, April 7, 2017.
Clad in a white shirt and grey suit, Lee, himself the vice-chairman of Samsung Electronics, was mostly expressionless.
Growing demand for more firepower from devices such as smartphones and servers have also helped push up margins for Samsung and its rivals in recent quarters.
"The Galaxy S8 is our testament to regaining your trust by redefining what's possible in safety, and marks a new milestone in Samsung's smartphone legacy", said DJ Koh, president of mobile at the company. The figure is Samsung's second-highest ever, behind only the record 10.16 trillion won operating profit it logged for July-September 2013.
The dollar added nearly 0.1 percent to 110.90 yen JPY= early on Friday, extending Thursday's 0.1 percent gain. Spot gold prices jumped 1.2 percent to $1,266.01 an ounce and touched their highest since November 10.
Today, we have a release date for THQ Nordic's latest offering to the basically nonexistent third party Wii U library. Darksiders Warmastered Edition will cost $19.99 when it's released on Wii U next month.
The rules would have required Internet service providers to get your permission before collecting and sharing your data. No information has been released about when President Trump will sign the bill or when the bill would take effect.
ITIN Renewal - Taxpayers may need to renew expired Individual Taxpayer Identification Numbers before they can file a tax return. The IRS will send written notice to each taxpayer and their representative that their account is being transferred to a PCA.
Yet he did not disclose "dozens" of foreign contacts in addition to these Russian meetings , which ....is suspicious. The White House tried to pass off the move as routine, claiming that Bannon's role was always meant to be temporary.
Thompson continued to play after getting his thumb taped and finished with just two points and three rebounds against the Magic. If this crew beats LeBron James and the Cavs, they all deserve to have a statue built in their honor outside of Philips Arena.
Bon Jovi has postponed both of this weekend's This House Is Not For Sale tour stops at Madison Square Garden due to illness. The Pittsburgh Post-Gazette ( http://bit.ly/2oHdWmM ) reports he also said: "This is the day when I need a karaoke singer".
Not long ago, Sevilla was in contention for the league title, but is now enduring its worst moment of the season. When you're a player of Lionel Messi's stature, every single aspect of your game is under intense scrutiny.
Masters leader Hoffman starts his 2nd round
Asked to describe how the accident happened, Johnson added: "I was wearing socks and slipped and went down three stairs". He tied for ninth behind victor Jordan Spieth in 2015 after being no worse than fourth through the first three rounds.