Korean electronics company, Samsung, is on track to report record earnings for 2017 despite its losses on the Note 7 and looming issues concerning its CEO.
Samsung has recently been the subject of several disastrous incidents that have somewhat stained their reputation as the leading electronics manufacturer in the world. However, despite the fact that the company is still reeling from the unfortunate incidents, Samsung is still on track to report some huge annual earnings for the quarter.
While most consumers are probably already aware of the PR nightmare Samsung had to endure with the exploding Galaxy Note 7, there is also currently a big scandal that is going on within the company in its home country, some may be aware of it, some may not.
Samsung's de-facto CEO Lee Jae-yong is currently set to go on trial due to his involvement in the long-running political corruption scandal in South Korea. The political scandal also involves the country's president, who was recently forced to step down from office and is also facing trial herself.
Despite the embarrassment in its home country and the exploding batteries on the Note 7, the company is still expected to report some huge gains for the quarter. According to BBC, the company has been forecasted to report a 48 percent rise in its profits for January 2017 to March 2017. The increase in its revenue is partly due to its strong shipments of memory chips for various manufacturers worldwide.
If proven to be true, the figures would be the highest profit margin the company has attained in the past four years. According to Apple Insider, the estimated $8.8 billion earnings do not even include the company's likely profits from its recently launched flagship smartphones, the Samsung Galaxy S8 and the Galaxy S8 Plus.
The same report claims that Samsung's second quarter earnings should be even better thanks to the revenue it will generate with its brand new flagship. The new flagship devices also come with the company's dive into the artificial intelligence (AI) market via their new virtual assistant called Bixby.