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Samsung sees quarterly profits skyrocket

by LLB Reporter
27th Apr 17 9:37 am

The latest figures from the tech firm

Samsung Electronics reported a 48 per cent rise in operating profits to $8.8bn (£6.8bn) for the three months to March.

Samsung believes it will see further growth on its memory chip orders as well as its phone business.

The firm is relying heavily on the success of the Galaxy S8 and S8+ after the chaos that came with its Note 7.

Last year the firm had to ditch the Galaxy Note 7 for good after it recalled 2.5m devices. The tech had problems with its battery, it over heated and in some cases even caught fire.

The two new S8 phones launched last week but no sales figures are currently available. Samsung has said that sales for the phone were 30 per cent higher than the Galaxy S7 which went on sale in 2016.

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