Apparently helped by the robust performance of its chip business, the company's operating profit is estimated at 9.9 trillion won ($8.76 billion) in the January-March period, compared with 6.68 trillion won posted a year earlier, the South Korean tech giant said in its regulatory filing. The demand for the company's memory chip has been good and it is predicted that this division will incur the highest sales figures till date in Q1 2017.
Lee, vice chairman of Samsung Electronics Co., appeared at the Seoul Central District Court, along with four other senior company executives, Yonhap News Agency reported. As per a report, Analysts claims that Samsung must have generated about $1.8 billion worth of profit in Q1 2017 after incurring a hefty loss of $5.3 billion previous year due to the Galaxy Note 7. We already have evidence of the same in the form of previous quarterly reports, where these businesses contribute about 68 percent to the overall operating profit.
These results come before the launch of its new Galaxy S8 flagship phone (which looks set to be a hit) - it goes on sale on April 21st.More news: Samsung Releases an "Infinitely Amazing" Galaxy S8 Commercial
According to a number of leaked images of the refurbished Note 7, Samsung is intending launch the smartphone with model number SM-N935 and run Android 7.0 Nougat. 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.
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.
Billionaire vice-chairman Lee Jae-yong was arrested in February as part of a corruption scandal that has led to the impeachment of former South Korean President Park Geun-hye. Not only are they seeing success in their own Exynos SoC, but continued business from Qualcomm for the upcoming Snapdragon 835 SoC has also added to this increase in profits. He and Samsung have denied wrongdoing.