Samsung Virtually Confirms Galaxy Note8 Launch Later this Year

The revenue of the division was down by close to 15 percent to 23.5 trillion won (US$20.7 billion) from 27.6 trillion won in the same quarter past year, the company said Thursday.

Samsung has posted its best quarterly profits since 2013 with strong memory chip and display sale, despite Sliding mobile sales.

Samsung expects to continue growing on the back of the memory chip business in the second quarter, driven by demand for high-density DRAM and solid-state drives (SSDs) in the server market.

But the firm's mobile business saw sales and profit slow with its first quarter operating profit at 2.07 trillion won, down from 3.9 trillion won a year ago. The Note 8 is an important smartphone release for Samsung, since it will majorly help Samsung to fix the series' reputation after the Note 7, which exploded and caused the company a major crisis. For the mobile business, market competition is expected to intensify in the second half.

Samsung has recently announced its financial results for the first quarter of 2017. Revenue increased more modestly to 50.55 trillion won ($59.81 billion), a 0.77 trillion won ($911.5 million) increase from Q1 2016.

The semiconductor division's profit was the biggest-ever in Samsung's history, topping the previous record high of 4.95 trillion won tallied in the previous quarter. "The company will aim to improve performance YoY by maximizing sales of the Galaxy S8 and S8+ and successfully launching a new flagship smartphone in the second half", Samsung said in a press release.

Samsung has been planning to release the volatile Note 7 again as a refurbished device since March, but now we know more about the zombie phone's relaunch.

The user also mentions that she demanded to have her Galaxy S8 unit replaced, but the new one also suffers from the same fate.

Samsung rejected a call from US activist hedge fund Elliott to split itself in two but accepted part of the fund's proposals on Thursday, revealing plans to cancel its existing treasury shares worth over $35 billion by 2018.



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