NewsSamsung Expects 50% Profit Increase

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Samsung has updated its guidance for investors and analysts; it now expects a 50 percent jump in its first quarter operating profit. It is forecasting profits of 9.9 trillion Korean won ($8.76 billion), a 48.2 percent year-over-year increase.

The company has recently been embroiled in several scandals that impacted the mobile development industry. First, it had to recall its Galaxy Note 7 phones after they began catching fire or exploding. In addition, company leader Jay Y. Lee is facing charges in a government corruption scandal.

However, the company recently unveiled its Galaxy S8 smartphone, which analysts expect to sell well. In addition, the company is now making the screens for the latest version of the Apple iPhone.

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