LG's operating profit jumps 82% in Q1

by Fredrick Graves April 10, 2017, 2:15

He could face at least five years in prison if convicted. A ruling is expected by late May. "Therefore bribery and all other charges fail to stand", lawyer Song Woo-Chul said. The move was supposed to smooth over the father-to-son transition of Samsung's ownership, but needless to say, it backfired in a spectacular fashion.

Samsung intends to announce its first-quarter net profit and sales by unit when it releases revised earnings later in April.

The South Korean technology firm Samsung on Friday projected its best quarterly profit in more than three years, beating analyst expectations.

Tech giant Samsung Electronics estimated on Friday that its first-quarter operating profit rose 48 percent from a year earlier. Samsung is expected to have posted a sound operating profit from its chipmaking business, which may have reached a whopping 6 trillion won.

Lee's arrest had raised concerns among conglomerates, called chaebol here, about the possible negative effect on Samsung's businesses, but it proved to be an unnecessary anxiety as seen in the better-than-forecast first-quarter earnings result.

Samsung's Galaxy Note 7 smartphone was plagued with problems which caused the device to overheat and in some cases catch fire.

US comment terse on latest North Korea missile
In tests last month, North Korea fired what experts believe was a Musudan intermediate-range ballistic missile on March 22. The latest missile test came amid concerns that the North may carry out another nuclear test or long-range missile launch.

Samsung Electronics said on Friday it expects a almost 50 percent annual jump in first-quarter operating profit but did not breakout performance by business unit. But that might not be such a bad sign, considering the Galaxy S7 launched in Q1 previous year and the Galaxy S8 isn't going on sale until later this month - not to mention the fact that Samsung doesn't have a new Galaxy Note on sale right now.

The Seoul-headquartered tech giant posted an operating loss of 35.2 billion won in the fourth quarter a year ago due largely to its struggling smartphone business.

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

Now, the company's future earnings rely heavily on the success of its flagship duo Galaxy S8 and Galaxy S8 Plus, which will hit the shelves sometime in April.

Kim Yong-Gu of Hana Financial Investment Co. said investors were also concerned that IT and automakers would be most affected if the U.S. report on foreign currencies due next week adds to USA pressure on South Korea to reduce its trade surplus.


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