Technology

Samsung expects strong profits thanks to chips, Galaxy S7 phone

Samsung expects strong profits thanks to chips, Galaxy S7 phone

They argued that the huge sum of corporate money was used for Lee's personal benefit - to secure a business merger and lobby regulators to help strengthen his control over Samsung.

- Also known as Jay Y Lee, the 48-year-old has spent his entire career in the company.

Lee's legal team has claimed no quid pro quo in the donations, saying the bribery charge was based on bias and guesswork.

The merger between Samsung C&T and Cheil Industries was extremely important to the Samsung heir apparent to inherit management control from his ailing father Chairman Lee Kun-hee who has been hospitalized for nearly three years.

Prosecutors blamed close ties between the government and big business for the scandal that toppled Park and has implicated dozens of other people at a number of chaebol, or big business conglomerates.

He is due to make his first court appearance today, alongside four other Samsung executives, and could face at least five years in prison if found guilty.

The verdict is expected to be delivered in late May.

Jackson says that a trade might be best for Carmelo, Knicks
NY has missed the playoffs for four straight seasons and has lost at least 50 games in the past three, all under Jackson. Anthony "would be better off somewhere else", according to Knicks president Phil Jackson, ESPN reports.

However, Lee's involvement in the corruption scandal is unlikely to have any long-term impact on Samsung's brand, analysts says.

- Grandson of Samsung founder Lee Byung-chul, son of current chairman Lee Kun-hee.

Embattled Samsung Electronics said Friday it expects profits to jump by half in the first quarter, despite a smartphone recall fiasco and the arrest of its de facto head. "But there was no such need", Song said.

The global memory chip leader said first-quarter operating profit was likely 9.9 trillion won (RM39.02 billion), compared with an average forecast of 9.4 trillion won from a Thomson Reuters survey of 18 analysts.

Samsung's Galaxy Note 7 smartphone was plagued with problems which caused the device to overheat and in some cases catch fire.

Samsung India is all set to launch a product in New Delhi on Friday, with the company sending invites for a 12pm event earlier this week. The result was higher than the market expectations.

It was about two months ago that one of the first rumors began circulating that Samsung would reintroduce the Galaxy Note7 to the market as a refurbished device.


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