Published: Fri, April 21, 2017
Science | By Hubert Green

Samsung boss Lee Jae-Yong goes on trial in South Korea

Samsung boss Lee Jae-Yong goes on trial in South Korea

The company on Thursday announced that its Q1 2017 operating profits were around $8.7 billion and total sales stood at $44.1 billion which is nearly 50 percent increase when compared to Q1 2016.

Experts estimate Samsung to have earned more than 6 trillion won from chip business in the first quarter, beating 4.95 trillion won profit in the fourth quarter. With the global chip market expected to grow as Chinese smartphone makers work up an appetite for high storage semiconductors, experts believe the quarters ahead will reap even bigger profits for the Korean company.

South Korea's LG Electronics Inc 066570.KS estimated on Friday its first-quarter operating profit rose 82 percent to its highest in almost eight years, handily beating market expectations on healthy sales of appliances and televisions.

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 gone on trial in South Korea. Revenue likely rose 9.7 percent from a year earlier to 14.7 trillion won.

The photos shown here are of a Galaxy Note 7 that turned up in Vietnam, although it's not clear if the device was sold legitimately.

Galaxy Note 7 preorders hit 400,000 units from August 6 to 18 past year.

But how realistic are those reforms in a country where the top 10 chaebols own more than a quarter of all business assets? Samsung scrapped its flagship smartphones past year after they overheated and caught fire, leaving billions of dollars in financial damages and hurting its reputation.

The company, however, feels that despite strong demand, the Galaxy S8 series is less likely to beat the sales of the Galaxy S7 series. 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.

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