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Galaxy S8 smartphone at the company's D'light flagship store in Seoul, South Korea.

According to analysts, the company's mobile division, which includes its smartphone business, is estimated to have made a 2.2 trillion won profit in the first quarter.

The company on Thursday estimated its operating profit for the first quarter should jump almost 50 percent from the same period a year ago, while its revenue should be about flat but better than analysts expected.

Revenue likely rose 0.4 per cent from a year earlier to 50 trillion won, Samsung said.

The South Korean conglomerate said its operating profit for the January-March term soared 48% on the year, to 9.9 trillion won ($8.7 billion).

IHS Markit said Chinese semiconductor companies are likely to dampen local firms' prospects, as they are set to produce more semiconductors in 2019. Samsung unveiled its latest flagship last month and the device will officially go on sale globally, including Canada, on April 21st.

There has been growing demand for higher-spec memory chips thanks to the evolution of smartphones, computers and the expansion of Internet-of-Things (IoT) devices.

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. Samsung Display - 84.8 percent of which is owned by Samsung Electronics - has a 97 percent market share of the small to medium-sized OLED panel market.

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With expectations high for the phone, analysts are looking to an earnings surprise for the second quarter? possibly surpassing 10 trillion won.

The company's stock is trading near historic highs, despite Lee's troubles and the scrapping previous year of its flagship Galaxy Note 7 smartphone due to fire-prone batteries.

The company could stand to benefit from the sales of a reduced price Note 7, as well as reduce costs of other handsets as certain parts of the Note 7 could be recycled.

The South Korean tech giant posted an all-time high operating profit of 4.9 trillion won in the chip segment in the October-December period of 2016.

If it proves to be true, this confident prediction by Samsung will see the company trump both its results for the same period past year, as well as their troubled holiday quarter.

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