Samsung logs near-record profit in Q1 despite absence of heir

But that might not be such a bad sign, considering the Galaxy S7 launched in Q1 a year ago 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.

Amid a general increase in share price over the last few months, operating profit this year was up 48 per cent from 2016 at 9.9 trillion won ($8.7 billion, 8.2 billion euros), the company forecast. The average forecast was 9.4 trillion won, and total revenue also rose 0.4% to 50 trillion won.

Analysts now believe the main driver for profits this quarter was Samsung's semiconductor business. He added that sales of mid-to-low tier smartphones also helped the mobile business remain profitable.

That would be its best quarterly profit in nearly four years and shows a recovery from the Galaxy Note 7 fiasco. Previously, the smartphone business was the company's main contributor. Its sales stayed almost flat at 50 trillion won ($44 billion) during the first quarter.

Regulators sue Ocwen Financial, say it mishandled mortgages
Ocwen is one of the nation's largest non-bank mortgage lenders, focusing mostly on subprime and delinquent mortgages. Ocwen plunged more than 50% in trading and was the biggest percentage loser on the New York Stock Exchange.

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. Now, the company has launched the second phone in the C series, the Galaxy C7 Pro which is just 7mm slim and has a full metal body design. He and Samsung have denied wrongdoing.

Following issues with the Note 7, the Korean company suffered its worst decline in smartphone sales, according to tech research firm Gartner. Samsung scrapped its flagship smartphones a year ago after they overheated and caught fire, leaving billions of dollars in financial damages and hurting its reputation.

While there might be some expected cause for concern, the new batteries have undoubtedly undergone Samsung's latest gamut of quality tests to ensure safety for its consumers. The announcement comes after the company struggled with the global recall of the Galaxy Note 7 and a political scandal involving the company's Vice Chairman Jay Y. Lee.

Ousted president Park Geun-Hye was thrown into jail last week after a court ordered her arrest in connection with the sweeping corruption scandal that brought millions of people onto the streets and saw her impeached.

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