Samsung profits up 48% despite Note 7 fire troubles

Samsung profits up 48% despite Note 7 fire troubles

Despite the problems with the exploding Galaxy Note 7, concerns may not have been as intense as originally though, a Reuters and Ipsos study found that 26% of American consumers would purchase a Samsung phone whilst 23% said that they would not.

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 current record was set in the third quarter of 2013, when Samsung's operating profit hit 10.1 trillion won, Yonhup news agency reported. Revenue rose 0.4 percent to 50 trillion won ($44.1 billion).

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.

Samsung launches its new C series of phablets in India with the C9 Pro in January 2017.

Therefore, in compliance with such disclosure regulations, the above figures represent the median of the earnings estimate range, provided below.

Fan violence delays Lyon-Besiktas game in Europa League
Fights also broke out between rival fans in the stands before the match. Turkish pro-government media were blaming French fans for the trouble.

It is thought that Samsung's semiconductor division is responsible for the better than expected financial results, and analysts predict that the company will see even more success in the second quarter of the year as hype over the firm's newest handset, the Galaxy S8, builds. Unlike the Galaxy S5 2017 that retails around the same price, the Galaxy C7 Pro is missing out on key Samsung takeaways like Always-on display, IP68 certification and Samsung Pay support. The S8 is a bezel-less smartphone with Infinity Display.

Lee's defence lawyers however said the payments to Choi were charitable contributions for sports and culture development that Samsung was obliged to make under pressure from officials, and not bribes.

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.

In fact, on the whole South Korea's stock market has been doing pretty well, with foreign funds pumping in $3bn.

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