Samsung, Seeking to Move Past Scandals, Forecasts Record Profit
By AMIE TSANGJULY 7, 2017
Samsung Electronics, the South Korean technology giant, has spent nearly the past year mired in an
array of crises — from its exploding smartphones to its heir apparent on trial for corruption.
Profit surged to 14 trillion won, or about $12 billion, in the second quarter of this year, a 72 percent
increase compared to the period a year ago, the company said in its preliminary earnings statement.
The earnings guidance marked a welcome piece of good news for a company
that has largely made headlines recently for the failure of its Galaxy Note 7 smartphone and the trial of Lee Jae-yong, the conglomerate’s de facto leader.
Earnings were also bolstered by a strong reception for Samsung’s latest Galaxy S8 phone,
and by the company’s display division, which produces the organic light-emitting diodes, or OLEDs, which are used in increasing numbers of displays.
