Samsung logs near-record profit in Q1 despite absence of heir

Samsung tips huge jump in profit as heir to stand trial

Samsung said the figures are estimates of consolidated earnings based on K-IFRS as Korean disclosure regulations do not allow earnings estimates to be provided as a range.

The quarterly earnings preview show that how Samsung's business is booming while its stock trade near historic highs, despite unprecedented crises in recent months.

Amid the company's struggle with the Note 7, Samsung's vice chairman was embroiled in a political scandal facing charges, including bribing ousted South Korean President Park Geun-hye.

Lee, who was arrested in February, has been charged with paying almost US$40 million to the now-impeached president's close friend Choi Soon-Sil, allegedly as bribes to secure policy favours.

LG said its January-March operating profit was $812.62 million and the highest since the second quarter of 2009.

Samsung's de facto leader is due to make his first appearance at court later Friday along with four other Samsung executives who were also charged on bribery and embezzlement.

More news: China prefers peaceful resolution of North Korean crisis

Lee's lawyer flatly denied the charges. From the previous quarter, the profit gained 7.38 percent.

However, according to the latest information cited by The Investor, it looks like the Note 8 is going to be marginally larger than the Galaxy S8+, standing in at 6.32 inches.

Samsung, which last week unveiled its new flagship smartphone, the Galaxy S8, was helped by strong sales of memory chips.

Industry officials said the Galaxy S8 could break the previous preorder record set by the Galaxy Note 7, though the preorder period for the S8 is two days shorter than that of the Note 7. The date seen on the phone's lock screen indicates that the pictures were taken Friday, April 7th, and the specs state that it's running a build of Android 7.0 from February 2017 - well after Samsung issued a global recall of the Note 7.

In the face of all of this bad press, the public doesn't seem to have changed their mind on Samsung, and consumers remain loyal, share prices actually increased and the company saw a 50% increase in profits over the last 3 months of 2016 as well as the first three of 2017.

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