Samsung heir denies bribery charges at first hearing

Samsung Electronics has forecast a 48 per cent rise in rise in profits to $8.8bn (9.9 trillion Korean won) in the first quarter of the current year (January-March 2017), thanks to strong memory chip sales.

Samsung shares touched a record high of 2.134 million won in late March on expectations of record earnings in 2017, as limited production capacity for the memory chip industry and growing demand for more firepower from devices such as smartphones and servers push up margins. That overshadowed Samsung reporting quarterly profit of almost $9 billion - its highest in more than three years - and the start of pre-orders in South Korea for its newest flagship smartphone. 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.

It is thought that Samsung's semiconductor division is responsible for the better than expected financial results, and analysts predict that the company will see even more success in the second quarter of the year as hype over the firm's newest handset, the Galaxy S8, builds. 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. This means that the 5.7-inch display that we've consistently been seeing on the company's Galaxy Note series might cease to exist in the future. Samsung Group's de facto leader appeared in court on Friday after his arrest seven weeks ago on charges including bribery, embezzlement, perjury, diverting assets overseas and concealing gains from a criminal act.

Paris shooting: Gunman was 'focus of anti-terror' probe
He was taken into custody but while being questioned grabbed another officer's gun and shot him three times, the source added. The attack rocked France's presidential race Friday with just days to go before one of the closest races in recent memory.

A man using his mobile phone walks past an advertisement promoting a Samsung Electronics' Galaxy S8 smartphone at a shop in Seoul, April 6, 2017. He and Samsung have denied wrongdoing.

Amid the company's struggle with the Note 7, Samsung's vice chairman was embroiled in a political scandal facing charges, including bribing ousted South Korean President Park Geun-hye. (STAND UP) Lee was indicted at the end of February, and by law the district court must rule on the case by the end of May.

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