LG Elec says Q1 operating profit likely up 82 pct y/y

Apple's rival Samsung Electronics forecast its best quarterly profit in more than three years in the January-March period, Reuters reported Friday.

On Thursday, April 6, Samsung shared that it expects its overall operating profit to touch 9.9 trillion won (approximately $8.8 billion) in Q1 2017. Revenue likely rose 9.7 percent from a year earlier to 14.7 trillion won.

Although its IT and mobile business is presumed to have posted lackluster earnings on the suspension of the ill-fated Galaxy Note 7, industry watchers said the Galaxy S8 and the Galaxy S8 Plus, which will hit shelves this month, will help the company recoup earnings down the road. So naturally, Samsung would have likely been able to post even greater profits for Q1 of this year if the Galaxy Note 7 issue didn't crop up, but thankfully it didn't impact the company that much.

Meanwhile, Analysts also predicts Samsung will soar up its operating profits to KRW (Korean Won) 50 trillion by the end of this year which is roughly $44 billion. Some researchers believe the smartphone will set a new first-year sales record.

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A week after the unveiling of the attractive Galaxy S8 and its unique "Infinity Display", Samsung follows things up with a phone that boasts another first for the brand: a model with 6GB of RAM, the Galaxy C9 Pro. "It will give a big boost to Samsung's earnings from the second quarter", analyst from IBK Securities, Lee Seung-woo told the Financial Times. The Samsung Galaxy C7 Pro tries to standout from other Samsung smartphone by opting for a full metal unibody which is just 7mm thick.

Nevertheless, the latest financial figures show how Samsung has managed to overcome all the obstacles after messing up with one of its flagship products previous year. 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 was arrested in February and appeared in a Seoul court on Friday.

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