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January 6, 2017 08:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/2WjZHe8XpKk/samsung-proves-its-business-remains-sound-despite-note-7-fiasco
Samsung Proves Its Business Remains Sound Despite Note 7 Fiasco
Samsung underscored the resilience of its business when it reported its best operating profit in three years, weathering the death of its fire-prone Galaxy Note 7 with the help of its workmanlike chip and display divisions and cheaper smartphones. From a report on Bloomberg: The world's largest maker of mobile devices posted a 50 percent surge in quarterly operating profit after demand from Chinese smartphone brands pushed up memory chip prices and buoyed the unit that makes organic light-emitting diode screens. Samsung also touched up an older phone line-up with new colors and features, helping tide it over in the Note 7's absence. Samsung is emerging from its biggest corporate crisis, when reports of incendiary Note 7s forced the Korean company to kill its most profitable gadget. It still hasn't revealed the results of a subsequent investigation into an episode that cost Samsung more than $6 billion and assured Apple of the lead in premium devices over the holidays. It's now counting on its next marquee phone to repair its reputation. "Despite the Note 7's vacuum, Samsung acquitted itself well on the back of sound S7 sales," said Lee Seung-woo, an analyst with IBK Securities Co. in Seoul. "After a softer landing in the first quarter, Samsung is on track for record June quarter profit with the new S8 coming to market."Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/2WjZHe8XpKk/samsung-proves-its-business-remains-sound-despite-note-7-fiasco
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