Samsung fans rejoice, Galaxy Note 8 confirmed

It's worth nothing that Samsung is much bigger than phones.

Operating profit was 9.9 trillion won (8.77 billion USA dollars) in the January-March quarter, up 48.27 percent from a year earlier. Revenue grew two percent to 50.5 trillion won ($45.53 billion). Samsung's profitability was sharply enhanced. The company made about $8.8 billion in profit in the first three months of 2017.

So almost two-thirds of Samsung's operating income during the first quarter was generated by its semiconductor business. The chip division's revenue was up 40 percent compared with a year earlier.

Samsung was forced to recall its Note 7 handsets twice after many caught fire or erupted in smoke, burning hands, furniture, and even causing the evacuation of a U.S. flight.

Samsung Electronics is the world's largest memory chipmaker and second-largest semiconductor company after Intel.

According to market researcher Gartner, the global chip market was predicted at 386 billion dollars in 2017, which is 12.3 percent higher than the previous year.

The company informed that most of its profits during the first quarter was "driven by the components businesses, namely the semiconductor division and the display panel segment". Demand was strong for high-end products, such as flexible organic light-emitting diode (OLED) along with ultra high definition (UHD) and liquid crystal display (LCD) panels.

Samsung may have not named the Galaxy Note 8 specifically in its press release, but fans already know that a new Galaxy Note arrives each year in August or September.

That may disappoint investors who had thought such a change could boost share prices and increase transparency in dozens of Samsung businesses that are controlled by the Lee family despite owning only small stakes in each company, thanks to a web of complicated cross-shareholdings.

The local currency was trading at 1,132.45 won against the USA dollar, down 2.35 won from the previous session's close. The shares surged to 2.226 million won in earlier trading. The company spent 9.8 trillion won on facilities in the first quarter. Consumers preferred the Note 7 to be a better phone over the S7 series during the Note 7 recall period. Smartphone sales were in the mid-80 percent of the total mobile phone sales. Samsung previously stated that the refurbished smartphones will not be sold in the United States.

All this appears supportive for Samsung's stock.

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