The Apple Inc (AAPL.O) rival and global memory chip leader said first-quarter operating profit was likely 9.9 trillion won (US$8.8 billion), compared with an average forecast of 9.4 trillion won from a Thomson Reuters survey of 18 analysts.
Anticipation of the tech giant's good news also caused shares to hit to a record high of 2.134 million won towards the end of March, though actual sales figures are not expected to be released until the end of April.
A man looks at LG Electronics' TV sets, which are made with LG Display flat screens, at its store in Seoul, South Korea, April 26, 2016.
LG has estimated that its first-quarter operating profit rose 82 percent to its highest in almost eight years. We already have evidence of the same in the form of previous quarterly reports, where these businesses contribute about 68 percent to the overall operating profit. The S8 was its first major smartphone launch since the fire-prone Galaxy Note 7 fiasco.
However, despite rough recent quarters, Samsung has been able to generate strong results, owing to its components business.
Only 14 percent of Samsung phone owners expressed doubts about safety of the company's smartphones, specifically the current flagship Galaxy S8.
According to a number of leaked images of the refurbished Note 7, Samsung is intending launch the smartphone with model number SM-N935 and run Android 7.0 Nougat. Lee is accused of funneling more than 38 million dollars to entities controlled by former President Park Geun-hye's confidante Choi Soon-sil in exchange for support for a 2015 merger of two Samsung affiliates that was deemed critical to cementing Lee's succession to the top of Samsung Group.
A bound and handcuffed Lee Jae-Yong, the vice-chairman of Samsung Electronics, arrived at the Seoul Central District Court as his trial opened Friday. Most analysts suggest that Samsung's chip and display business is continuing to perform better than expectations, they are booming, to say the least.
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