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Trial of Samsung Heir Focuses on Father-to-son Succession

10 April 2017

The company's stock is trading near historic highs, despite Lee's troubles and the scrapping a year ago of its flagship Galaxy Note 7 smartphone due to fire-prone batteries.

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

South Korea's LG Electronics Inc estimated on Friday its first-quarter operating profit rose 82 percent to its highest in almost eight years, handily beating market expectations on healthy sales of appliances and televisions.

Despite the predicted year-on-year profit increase, however, it looks like sales will be essentially flat: Samsung's Q1 2016 revenue was 49.78 trillion won. They said Samsung's semiconductor division likely recorded profit much higher than expected, contributing more than half of the company's quarterly income as supplies of memory chips remained tight while demand from global smartphone makers was solid.

The trial of Samsung Electronics' vice chairman Lee Jae-yong has gotten underway following a pretrial hearing last month.

China bans property sales in upcoming economic zone
Industries that don't meet the requirements of the function of the capital will be moved to the Xiong'an New Area. The new area is not deeply developed so the construction of the infrastructure can start at a higher level.

The unit posted its record quarterly high of 4.95 trillion won in operating profit in the previous quarter.

Samsung vice chair Jay Y. Lee, in presumably happier times.

The first-quarter profit beat market consensus of about 9.4 trillion won.

Samsung Electronics Co.'s thriving components business is keeping it financially prosperous, prompting the company to forecast strong first-quarter earnings growth despite political turmoil ensnaring the South Korean conglomerate back home.

Lee Jae-yong, the de facto leader of Samsung Group on Friday denied bribery allegations in his first court hearing held in relation to a massive corruption scandal that ousted President Park Geun-hye. Most analysts suggest that Samsung's chip and display business is continuing to perform better than expectations, they are booming, to say the least. That display may also make its way onto Apple's next iPhone later this year, with the company reported to have placed an order for about 160 million OLED panels from Samsung Display. The company estimated that its operating profit, gross profit minus operating expenses, will be clocking 50 percent year-on-year increment. Last month, Samsung announced plans to sell refurbished versions of the Note 7 that were previously taken off the shelves because of fears over their explosion-prone batteries.