Despite Problems, Samsung’s Profit Increased by 48 Percent in the First Quarter

Samsung Electronics estimates that it will achieve its largest quarterly profit in over three years in the first quarter of this year, despite the fiasco with the Galaxy Note 7 smartphone and allegations against the leaders of the South Korean company for political corruption.

>>>VIDEO: Officially Presented Samsung Galaxy S8 That Can Also Serve as a Personal Computer

Samsung’s management estimates that its operating profit from January to the end of March reached 9.9 trillion won or 8.8 billion dollars, more than analysts expected in a Reuters survey.

The company’s total revenue is estimated to have increased by 0.5 percent year-on-year in the first quarter of this year, reaching 50 trillion won.

The largest quarterly profit in nearly four years indicates that the company is quickly recovering from the fiasco with the Galaxy Note 7 smartphone, which was pulled from the market last year due to battery self-ignition.

>>>South Korean Court Will Indict Five Samsung Executives

Analysts believe that Samsung’s business results in the second quarter could be even better than in the first due to the intense publicity surrounding the new Galaxy 8 smartphone and the artificial intelligence technology called Bixby embedded in it.

>>>Samsung Presents Innovations for This Year to Traders in Barcelona

The company appears to be quickly recovering from the political scandal in which Samsung’s leader was accused of bribery, along with South Korean President Park Geun-Hye, who was recently impeached for this reason.