July 28, 2017

Samsung Galaxy Note 8 Will Put S8 To Shame

10 May 2017, 05:15 | Ross Houston

Samsung Galaxy Note 8 Will Put S8 To Shame

Samsung Galaxy Note 8 Will Put S8 To Shame

Operating profit was 9.9 trillion won (8.77 billion USA dollars) in the January-March quarter, up 48.27 percent from a year earlier.

Samsung has posted its best quarterly profits since 2013 with a strong memory chip and display sales, despite Sliding mobile sales.

Asia's most valuable company by market capitalization said that expects a further increase in memory chip orders and growth in earnings from the phone business.

But the firm's mobile business saw sales and profit slow with its first quarter operating profit at 2.07 trillion won, down from 3.9 trillion won a year ago. Samsung identified problems concerning the battery of the smartphone, specifically irregular sizes for the first recall and manufacturing issues for the second recall, as the cause for the exploding Galaxy Note 7.

Samsung had earlier dismissed the rumors and had said that users could fix this by adjusting the display settings.

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Samsung has posted a very healthy rise in profits and strong fiscal performance, despite heavy pressures on the electronics giant.

The first "official" sign that Samsung might not have given up on its Galaxy Note range of productivity-centric phones has arrived courtesy the South Korean major's first quarter financial results. Also, this quarter comes with the exciting news of another flagship launch - expected in the second half of this year.

The profit numbers for the said quarter are record breaking while the revenues have flatlined.

Vice-chairman Lee Jae-Yong, the heir to the Samsung group, has been held in custody and is on trial for bribery, with other key executives, in connection with the sprawling corruption scandal that brought down South Korean president Park Geun-Hye. But the bad news is that sales from its key mobile business decreased due to a decline in flagship product sales, namely the price adjustment of the Galaxy S7.

"Ever since we opened the Galaxy S8 and S8 Plus to the public, they are... associated [with] credibility in the market and highly praised for their superiority", he said during Samsung's April 26 earnings call.

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