Refurbished Galaxy Note 7 begins appearing in the wild


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 previous year.

Lee has gone on trial in South Korea.

Samsung said the figures are estimates of consolidated earnings based on K-IFRS as Korean disclosure regulations do not allow earnings estimates to be provided as a range.

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

LG, the world's No. 2 television maker behind Samsung Electronics Co Ltd 005930.KS , said January-March operating profit was likely 922 billion won ($812.62 million), compared with an average forecast of 518 billion won from a Thomson Reuters I/B/E/S survey of 24 analysts and the highest since the second quarter of 2009.

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We'll never know whether the OG Note 7 would have been updated to Nougat by now (a lot of Galaxy S7 owners are still waiting), mainly because Samsung was forced to recalled every single one of the handsets it sold. Samsung was forced to recall it late past year after reports of the device overheating and exploding. A few months later, its de facto heir and several top executives were charged with crimes linked to a political scandal that toppled the country's president.

Lee's arrest, the first for a Samsung chief even though his father was twice convicted of bribery, sent shockwaves through the company and triggered the announcement of a major reform of its top-down management style. It led to the suspension of President Park Geun-hye for allegedly receiving bribes.

An issue that caused Samsung's own Vice Chairman Jay Y. Lee to be arrested and he is now facing charges for bribing their former president Park Geun-hye.

That would be its best quarterly profit in nearly four years and shows a recovery from the Galaxy Note 7 fiasco.

Lee's defence lawyers however said the payments to Choi were charitable contributions for sports and culture development that Samsung was obliged to make under pressure from officials, and not bribes. Samsung smartphone sales fell in the third quarter of 2016 by 14.2 percent year over year, making it the company's worst performance ever. Some say the S8 could set a new first-year sales record.