Samsung Flexes Its Muscles in the Battle With Apple
Samsung Electronics said Friday that it expects to see record quarterly profits as rising demand for its memory chips and flagship Galaxy S8 boosts its bottom line.
Samsung Electronics (SSNLF) said Friday that it expects to see record quarterly profits as rising demand for its memory chips and flagship Galaxy S8 boosts its bottom line amid its battle with Apple Inc. for global smartphone dominance.
Samsung said profits for the three months ending in June, its last fiscal quarter, are likely to top 14 trillion Korean won ($12.1 billion) thanks in part to a near 20% surge in revenue to 60 trillion won. Both figures, if confirmed, will beat analysts expectations and likely add to the stock's 32% year-to-date gains.
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