Samsung's insane day: Bumper profits, new phone and its chief on trial

Its January-March operating income will be 9.9 trillion won ($8.8 billion), compared with 6.7 trillion won a year earlier, the South Korean company said in its earnings preview.

The South Korean technology firm Samsung on Friday projected its best quarterly profit in more than three years, beating analyst expectations. 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.

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. Revenue jumped 0.4 percent to 50 trillion won, above the analysts' forecasts.

According to a number of leaked images of the refurbished Note 7, Samsung is intending launch the smartphone with model number SM-N935 and run Android 7.0 Nougat.

Growing demand for more firepower from devices such as smartphones and servers have also helped push up margins for Samsung and its rivals in recent quarters.

The forecast $8.8bn profits don't include what the company is hoping to make from its new phone, the new and improved Galaxy 8, which hits the shelves later this month. 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.

Samsung Electronics Vice Chairman Lee Jae-yong, dressed in the dark, gray suit and handcuffed, appeared in the Seoul Central District Court.

Lee, who was arrested in February, has been charged with paying almost $40 million to the now-impeached president's close friend Choi Soon-Sil, allegedly as bribes to secure policy favours. Lee has previously denied the charges, saying that while Samsung did give money to the foundations, he didn't know Choi controlled them nor did he expect anything in return.

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