Samsung sees 48% rise in Q1-17 earnings at $8.8 bn

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Samsung has been facing various challenges since past year, including the suspended production of the Galaxy Note 7 phablet and the arrest of the firm's de facto head Lee Jae-young in line with the corruption scandal that led to the ouster of South Korea's president.

The company has been able to push through and their forecast tells us that they're expecting to post a $8.8 billion profit for the first quarter of this year. The demand for the company's memory chip has been good and it is predicted that this division will incur the highest sales figures till date in Q1 2017. Previously, the smartphone business was the company's main contributor.

Samsung has launched yet another "Pro" device in India, the Samsung Galaxy C7 Pro.

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Some researchers forecast the S8, which sports the largest screens for Samsung high-end smartphones to date, would set a new first-year sales record. "It will give a big boost to Samsung's earnings from the second quarter", analyst from IBK Securities, Lee Seung-woo told the Financial Times.

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. On the other hand, we don't really know if Samsung will release its Galaxy Note 8 this year as some previous rumours suggested that the company might, in fact, skip the Note series for this year.

Samsung has been grabbing headlines over the past year for all the wrong reasons. 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.

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Prosecutors allege 48-year-old Mr Lee used more than £30m in company funds to bribe Ms Park to help ensure a smooth leadership transition at Samsung after his father suffered a heart attack in 2014.

The verdict is expected to be delivered in late May.

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