Samsung forecasts 48% profit surge in Q1 2017

The South Korean company said operating profit for the first three months of this year was estimated at 9.9 trillion won (£7 billion), up 48% from a year earlier.

The strong comeback was a result of booming sales of memory chips and flat-panel displays, Samsung said.

LG said January-March operating profit was likely 922 billion won ($812.98 million), compared with a 518 billion won average forecast from a Thomson Reuters I/B/E/S survey of 24 analysts. Samsung was forced to recall it late past year after reports of the device overheating and exploding. This means that the 5.7-inch display that we've consistently been seeing on the company's Galaxy Note series might cease to exist in the future.

The main thing which everyone must look around is the battery capacity, so if we look at the battery life of both smartphones so the Samsung Galaxy S7 got the long lasting battery of 3000 mAh while the Apple iPhone 7 got the 1960 mAh of battery. The announcement comes after the company struggled with the global recall of the Galaxy Note 7 and a political scandal involving the company's Vice Chairman Jay Y. Lee. So naturally, Samsung would have likely been able to post even greater profits for Q1 of this year if the Galaxy Note 7 issue didn't crop up, but thankfully it didn't impact the company that much.

Ousted president Park Geun-Hye was thrown into jail last week after a court ordered her arrest in connection with the sweeping corruption scandal that brought millions of people onto the streets and saw her impeached. 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.

The verdict is expected to be delivered in late May. The prosecution is trying to determine whether the donations were given as bribes in exchange for government support for the company's bid to enter the lucrative duty-free business.

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