Samsung is anticipating strong operating profits of $8.7b in the first three quarters of 2017, after the release of its upcoming Galaxy S8 flagship. The results are likely to be the best in the last three years. This is also expected to mark an increase of 48-pc in profits over the same quarter in 2016.
The rise in profits is anticipated as a result of Samsung’s booming semiconductor business, which is expected to yield record sales of $5.2b. However, its mobile division’s sales lag behind with $1.8b. The results are expected to be in line with expectations after the company incurred losses of $5.3b as a result of the recall of Note 7 last year.
Samsung is taking pre-orders for Galaxy S8 and S8+flagships, and pre-order sales are already reaching record levels.
The company has also signed an OLED deal with Apple, whereby it will be supplying 70 million panels to Cupertino for the upcoming iPhone 8 flagship.
Samsung enjoys the reputation for making the best display in the smartphone industry. This has been further strengthened by the release of the Galaxy S8 which is reported to have the best display on a smartphone ever.
Samsung’s stock prices have already witnessed a rise of more than 15 pc this year, having increased by 43pc over the last year. Investor confidence remains high despite the recent corruption scandal involving the company leader Lee Jae-yong. The company will be declaring results in the quarterly report later this month.
