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Trial of Samsung heir focuses on father-to-son succession

Samsung Electronics has reported a 48% jump in profits during the first three months of 2017, despite challenges around the failure of its Galaxy Note 7 handset past year.

In a regulatory filing, Samsung said consolidated operating profit for the January-March quarter was likely 9.9 trillion Korean won ($8.76 billion), up some 48.2 percent from a year earlier, and beating a Reuters poll that predicted 9.4 trillion won. Samsung shares reached a record high of 2.1 million won last month on expectations of record annual profit this year.

The stable flow of components profits comes as Samsung's de facto leader, Lee Jae-yong, stands trial beginning Friday over his alleged role in a bribery scandal roiling South Korea. Mr.

At its unveiling in NY last month, the large-screened Galaxy S8, which incorporates a native virtual assistant, won widespread praise.

They said Samsung's semiconductor division likely recorded profit much higher than expected, contributing more than half of the company's quarterly income as supplies of memory chips remained tight while demand from global smartphone makers was solid.

The broader electronics-to-energy Samsung group has been in transition since Lee's father suffered a crippling heart attack in 2014.

More news: KFC to stop using chickens raised with human antibiotics

Clad in a white shirt and grey suit, Lee, himself the vice-chairman of Samsung Electronics, was mostly expressionless.

Samsung Electronics Co.'s thriving components business is keeping it financially prosperous, prompting the company to forecast strong first-quarter earnings growth despite political turmoil ensnaring the South Korean conglomerate back home.

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

One of the favours Lee allegedly sought from president Park was state approval for a controversial merger of two Samsung units in 2015, seen as a key step to ensure a smooth transfer of power to him.

While its smartphone business still remains uncertain, the latest G6 smartphone is said to enjoy stronger performance compared to its predecessor, the G5. The suspension of the Galaxy Note 7 phablet a year ago dealt a blow to its market presence as well as its reputation.

A refreshed focus on the Galaxy S7 was able to able to bring in some additional revenue for Samsung when we saw the company releasing additional color variants throughout the year.

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