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

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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.

Short Interest in Starbucks Co. (SBUX) Increases By 12.8%
The Average Volume of the company is 9.8 Million and P/E (price to earnings) ratio is 29.92, while Forward P/E ratio is 23.82. In other news, Director Joshua Cooper Ramo sold 5,868 shares of Starbucks stock in a transaction dated Tuesday, January 31st.

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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