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South Korea tech giants Samsung post record earnings

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By Euronews
South Korea tech giants Samsung post record earnings

Samsung has posted record earnings putting it on course to beat rival Apple’s quarterly profits.

The firm said huge sales of its new Galaxy S8 smartphone and demand for its memory chips were behind the boost in April to June.

The tech giant predicted another blockbuster report for the current quarter to September. – despite an embarrassing recall last year of its flagship Galaxy Note 7 smartphone over exploding batteries which cost it billions of euros and was a huge blow to its reputation

The mobile division, which competes with Apple, reported a profit of 10.7 billion euros.

The record earnings come as the firm’s Vice Chairman Jay Y. Lee is in detention while on trial for his alleged role in a corruption scandal involving former president Park Geun-hye. He has denied wrongdoing