Samsung Electronics announced its earning guidance for FY17 Q1 with consolidated revenue of approximately KRW 50 trillion ($43.7 billion) and operating profit of KRW 9.9 trillion ($8.7 billion).
The consolidated revenue was almost the same as FY16 Q1 revenue of KRW 49.7 trillion ($43.6 billion), while the operating profit was up by a significant 48.2% from FY16 Q1 figure of KRW 6.7 trillion ($5.8 billion) mainly due to the strong sales of memory chips and flat-panel televisions. Samsung also expects to bounce back in cellphone business after the failure of Note 7 in 2016 with the introduction of new Galaxy S8 smartphone, which was launched on April 21, 2017.
