Samsung made over $50 billion in sales this quarter

Samsung's Always on Display now comes with a few more options. Image Tech2/Rehan Hooda

Samsung Electronics reported a 58% surge in profit, topping projections as demand for its memory chips remained strong enough to outweigh concerns about display supplies to Apple. Samsung has now confirmed this in its guidance number announced today. Last year's S8 and S8+ helped bolster the Suwon-based manufacturer's second-quarter profits as well. The firm expects operating profits of 15.6 trillion won (around $14.6 billion), marking a 57.6 percent increase from the same period a year ago. Q1 2018 sales also grew, rising 18.7 percent YoY to 60 trillion won, but that's lower than the previous quarter's 66 trillion won.

Concerns about the smartphone market and a subsequent fall in demand for components like OLED screens - used in Apple's iPhone X - are behind a roughly 5.3 per cent fall in Samsung's share price so far this year, from a record high in November.

Considering the company's whole memory business, Samsung is still expected to bring in higher profits this year. The company is estimated to have sold 10 million units to retailers alone. Samsung did not go into detail about its performance and will release final earnings results most likely in April 26.

They put this down to Samsung's early launch of its flagship Galaxy S9 device in March, healthy sales of older devices as consumers balk at the high price of new premium models, and a short-term dip in advertising costs. That compares to the 14.5 trillion won average of analysts' estimates compiled by Bloomberg. However, Meritz believes Samsung's display business' profit will plummet by 77 percent to 300 billion won.

Ghouta Falls in Syrian Regime's Clutches
State news agency SANA said "a number of buses" carrying Jaish al-Islam fighters and their family members had exited through the checkpoint. -Gen.

Back to the Jersey Shore
Deena married Chris Buckner, but before that, she had to say goodbye to her father, who lost his short battle with Leukemia. I'm proud that you're the godmother of my kids and you're Snooki .' But our show became successful because of the backlash.

Potential breach to Delta Air Lines customer information
Traders' initial takeaway was that it signaled an escalation in the trade fight between the world's two biggest economies. Based on a recent bid, the stock is trading -6.21% away from it's 52- week high and 15.56% away from its 52 week low.

The won, which was trading around 1,070 won to the dollar last month, has appreciated to 1,050 won since the beginning of this month as the U.S. Donald Trump administration has been putting pressure on Korea to increase the value of its currency.

Samsung Electronics Co. said Friday it will participate in the ongoing rights offering of Samsung Heavy Industries Co.by allocating 204 billion won (US$191 million) in funds. "But it won't have a critical impact on the company's second-quarter performance".

Even with an optimistic outlook for its first-quarter earnings, shares of Samsung closed 0.7 percent lower to ₩2,420,000 on Friday.

Related news:

Hot News

isis-killer-beheading-video-story-top Shock, pity for Iranian-American YouTube shooter in Tehran
Apr 07, 2018 - 00:40
A quick check of her license plate revealed the owner had been reported missing from the San Diego area. A 2012 bankruptcy record indicates Aghdam's father Ismail claimed he had two handguns and one rifle.

isis-killer-beheading-video-story-top DNA Test Reveals Woman's Father Is Actually Parents' Fertility Doctor
Apr 07, 2018 - 00:36
Ms Ashby then told Ms Rowlette for the first time that she was conceived through artificial insemination using a sperm donor. In any case, it seems that at some point, Dr Mortimer used his own sperm instead, without the knowledge of the parents.

isis-killer-beheading-video-story-top Better Snapchat AR Lenses are now available on the iPhone X
Apr 07, 2018 - 00:36
Snapchat is one of the first major apps to combine TrueDepth facial information since iPhone X launched in November. This, according to The Verge , could mean that Snap is also not allowed to make use of this data for targeting ads.

isis-killer-beheading-video-story-top Facebook will verify identities of popular Pages and political ad buyers
Apr 07, 2018 - 00:34
CEO of Facebook Mark Zuckerberg is set to testify before a congressional panel on the Facebook breach . However, there is a way to delete everything Facebook knows about you.

isis-killer-beheading-video-story-top 'Black Panther' To Screen In Saudi Arabia After 35 Year Cinema Ban
Apr 07, 2018 - 00:34
In the early 1980s, the closure of movie theaters was the result of this conservative movement. Disney , AMC and Italia Film did not immediately respond to FOX Business' request for comment.

isis-killer-beheading-video-story-top Former South Korean President Found Guilty Of Bribery
Apr 07, 2018 - 00:33
She was accused of giving close friend Choi Soon-sil too much access to the business of government. The verdict came as a Seoul Central District Court judge read a lengthy statement Friday.

isis-killer-beheading-video-story-top New vehicle market suffers March fall
Apr 07, 2018 - 00:33
Registrations for alternative fuel cars rose 5.7%, but this was not enough to offset the 37% decline in diesel auto registrations. The UK new vehicle market fell for the 12 month in a row in March, with registrations down 15.7% year on year.

isis-killer-beheading-video-story-top Amazon Echo speakers finally get an intercom feature
Apr 07, 2018 - 00:33
The command is also useful for announcing when you're leaving the house, or to announce when you're on the way home. Amazon ( amzn ) has been steadily releasing new Alexa features meant to be used across multiple Echo devices .

isis-killer-beheading-video-story-top Principles Agreed To In Afghanistan-Pakistan Action Plan
Apr 07, 2018 - 00:32
During his meeting with Ghani, the Afghan president invited PM Abbasi to "initiate a state-to-state comprehensive dialogue". Afghanistan should focus on plugging gaps on its side of the border and refrain from the "blame game", the ministry said.

isis-killer-beheading-video-story-top "Since Migrant Caravan Splinters, " Trump Takes Credit and Also Mexico Scoffs
Apr 06, 2018 - 07:23
Most of the migrants joined the caravan in hope of reaching the USA and escaping from violence plaguing their own countries.

isis-killer-beheading-video-story-top AMC Secures First License To Open Cinemas In Saudi Arabia
Apr 06, 2018 - 07:20
Baytex Energy Corp.is a part of Basic Materials sector and belongs to Independent Oil & Gas industry. Shares of AMC Entertainment stock traded up $0.95 during trading hours on Thursday, hitting $16.35.

isis-killer-beheading-video-story-top NDA lawmakers won't take salary as Parliament almost washed out
Apr 06, 2018 - 07:19
According to media reports, the Opposition had earlier alleged that the AIADMK had been disrupting Parliament at the behest of NDA in a bid to that the proposed no-trust motion is not taken up.

isis-killer-beheading-video-story-top Ansonia Police Charge Woman With Child Abuse
Apr 06, 2018 - 07:18
Camilini-Otero is charged with first-degree assault, first-degree reckless endangerment, and risk of injury to a minor. The woman's body was discovered early Monday in the woods in Bradenton.

isis-killer-beheading-video-story-top Parkland teen who was shot shielding classmates, rejects 'hero' label
Apr 06, 2018 - 07:13
He barricaded a classroom door and used his body as a shield as the bullets flew, protecting a class full of students from harm. Borges was shot five times during the February 14 school shooting , which killed 17 people.

isis-killer-beheading-video-story-top Turkey grants Rosatom construction license for first unit of Akkuyu nuclear plant
Apr 06, 2018 - 07:10
To that end, the country has launched the project for a second nuclear power plant in the northern Black Sea province of Sinop. The remaining 49% stake is planned to be sold to investors as per the intergovernmental agreement.