Samsung shrugged off the Galaxy Note 7 debacle and a corruption scandal to post its best quarterly profit in 3 years (SSNLF)

SamsungDrew Angerer/Getty Images

Strong memory chip earnings propelled tech giant Samsung Electronics to its best quarterly profit in more than three years, the South Korean firm said on Thursday as it announced its first-quarter results.

Samsung said in a regulatory filing that its January-March operating profit was 9.9 trillion won ($ 8.75 billion), compared with 9.9 trillion won it estimated earlier in April. That means the results were in line with expectations.

The company’s revenues rose 2% to 50.5 trillion won ($ 44.2 billion), also in line with its earlier estimate.

The solid set of results come after a turbulent period for Samsung.

Last October, the company made headlines after a number of its Galaxy Note 7 devices overheated and caught fire. The flagship smartphone was scrapped as a result of the fiasco.

Samsung heir Lee-Jae Yong is also embroiled in a corruption scandal in South Korea that goes right to the top of the highest levels of government. He has been arrested and charged with bribery and embezzlement. He denies all charges.

Samsung’s new flagship smartphone, the Samsung Galaxy S8, was not released during this period so it’s hard to say how strong sales of the device are.

(Reporting by Hyunjoo Jin and Se Young Lee; Editing by Stephen Coates)

NOW WATCH: 6 things the Samsung Galaxy S8 can do that the iPhone can’t

Feedburner

Post Author: martin

Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.