Apr 27, 2017
Samsung sees best quarterly profits in three years
Demand for memory chips and flat screens for televisions and phones has given Samsung Electronics its best quarterly profits in three years,. The South Korean tech giant reported a 48% jump in operating profits to $8.8bn for the three months to March. Samsung said it expected further growth in memory chip orders and a pick up in earnings from its phone business. The two S8 devices launched last week and no sales figures are yet available, but Samsung said pre-orders had been 30% higher than for the Galaxy S7 in 2016. Despite the financial success, Samsung remains mired in scandal with its de-facto head Lee-Jae Yong on trial over his alleged role in a corruption scandal that brought down South Korean President Park Geun-hye.
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