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Despite its scandals, Samsung is set for one of its best-ever quarters

Samsung has been grabbing headlines over the past year for all the wrong reasons. While its botch...
Newstalk
Newstalk

11.25 7 Apr 2017


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Despite its scandals, Samsung...

Despite its scandals, Samsung is set for one of its best-ever quarters

Newstalk
Newstalk

11.25 7 Apr 2017


Share this article


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

While its botched Galaxy Note 7 launch (which was recalled after a number of devices exploded) and the arrest of its vice-chairman and effective leader Lee Jae-Yong (for alleged bribery, embezzlement, and perjury, though he denies any wrongdoing) have been well-publicised, in the background it has been business as usual for the company.

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Its microchip division's success is set to deliver the company's strongest quarter in almost four years.

The company is expecting to report an operating profit of €8.3bn - that's 48% higher than the same period last year.

It's become the global leader in memory chip manufacturing and its chips are used by a number of the world's leading tech companies.

Samsung is also a key supplier of hi-tech screen technology to other firms.

These results come before the launch of its new Galaxy S8 flagship phone (which looks set to be a hit) - it goes on sale on April 21st.

The phone will help the company to gain ground on Apple at the top-end of the market, and its mid-tier offerings are taking off in China, meaning that 2017 is set to be a massive year for the South Korean firm.

Samsung's sales are reported to account for up to one-fifth of South Korea's GDP.


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