Samsung Releases Q2 Earnings Guidance, Expects Big Profits

Close												Samsung Group chief Lee Jae-yong arrives at a court in Seoul on April 7

Preliminary figure for operating profit was 14 trillion won (USD12.1 billion) in the April-June quarter, up 72 percent from a year earlier.

Both are the company's highest ever for a quarter.

The step will reportedly propel Samsung to record profit this year with the company pledging to create almost half a million jobs in four years.

Samsung has succeeded through consistent aggressive investments around the globe. Instead, analysts believe that huge growth in Samsung's semiconductor and display panel businesses.

Samsung is forecasting quarterly profits boosted by increased demand for its memory chips and display panels, as it puts the Note 7 debacle of past year behind it. Earlier this week, Samsung said it planned to invest $18 billion in South Korea in its chip business to boost its lead in the market.

But Samsung has also being helped by its performance with next-generation displays, according to Reuters.

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The company still faces questions, however, about its corporate culture as it battles a corruption scandal that has already taken down the former South Korean president, Park Geun-hye.

Samsung is expected to announce the Galaxy Note 8 sometime around the end of August or beginning of September. Lee, who has denied wrongdoing, has been absent from his role as the vice chairman of Samsung Electronics since February. Mr.

Samsung Electronics topped analysts' estimates with its best operating profit, as global demand for semiconductors remained strong and the new Galaxy S8 smartphone won over customers.

Samsung might have beat Apple Inc. and other global firms in terms of earnings, analysts said. The company also said its newest chip fab line in Pyeongtaek, South Korea, began mass production and has shipped its first product to customers.

2016 was a hard year for Samsung, hands down. Samsung Electronics has jumped 64% over the past year, and Thursday's close at 2,403,000 won falls just short of last week's fresh record high.

Shares of Samsung were unchanged at 2.361 million won as of 11:48 a.m.in Seoul.

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