Samsung reports record $8.76 bn quarterly operating profit

The global memory chip leader said first-quarter operating profit was likely 9.9 trillion won ($8.8 billion), compared with an average forecast of 9.4 trillion won from a Thomson Reuters survey of 18 analysts.

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. Samsung's flagship smartphone, the Galaxy S8, hits shelves this month, a debut that comes after a costly and humiliating worldwide recall a year ago of another major model, the Galaxy Note 7. That could help it stage a comeback in the wake of a string of controversies.

Earlier this week Samsung rolled out the Android 7.0 Nougat update for the Galaxy Note 5 in Turkey and now we confirm that the update has been rolled out in more countries.

Its vice-chairman Lee Jae-Yong, heir to the parent Samsung group, has since been arrested and indicted for bribery, along with four other senior executives, in connection with a graft scandal that saw ex-president Park Geun-Hye impeached.

Lee has accepted the responsibility of making the payments; however, he has denied any wrongdoing, saying the business firm was put under pressure by Park's network to pay the huge sums to the non-governmental funds linked to the then-president.

Analysts said strong demand for mobile chips and displays for smartphones fueled the stellar profit during the typically slow season for smartphones and television sets. Sales of its new G6 flagship smartphone began in March and will not provide meaningful contributions until the second quarter.

What's more, Samsung's stock is up more than 40% over the previous year and was recently trading at close to an all-time high of $1,500 a share.

Galaxy S8 arrived with a large number of goodies that made a lot of people happy.

LG, which released the G6 smartphone last month, will also kick off full-fledged overseas sales this month, speeding up its sales and pushing to win over customers. The video lasts for one minute and it revolves around the smartphone's innovative looking Infinity Display and slim bezels.

Dustin Johnson Stays Hot With Dell Match Play Win
Israel approves first new West Bank settlement in 25 years