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Samsung's profit at 3-year high thanks to memory chips

Samsung's profit at 3-year high thanks to memory chips

Asia's most valuable company by market capitalization said that expects a further increase in memory chip orders and growth in earnings from the phone business.

It was its biggest quarterly net profit since the record third quarter of 2013.

The company's Galaxy 8, already lauded in some parts, goes on full sale from tomorrow (28 April), meaning its next quarterly results could continue this trend. The company also decided that the voice feature on its Bixby voice-activated personal assistant would be available in the USA only later in the spring. It also focused on supplying 48-layer V-NAND chips and high-density server DRAM, including LPDDR4 memory modules.

However, competition is expected to intensify with newly launched smartphones in the market.

The mobile division posted 3.01 trillion won in sales, up 2 percent from a year earlier, driven by the launch of the premium G6 smartphone and new mass-tier model, the company said.

It has always been said that the iPhone 8 will be a premium handset and sport a curved OLED screen, much like the Galaxy S8.

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Lee Jae-yong, vice chairman and de facto head of Samsung, was arrested in February on corruption allegations involving the president of Korea.

The Galaxy S8 smartphones has gotten favorable initial reviews, though some consumers complained that the screen appeared to have a pink hue.

Samsung informed The Journal that neither the red tint issue nor the Wi-Fi problems are related to product defects.

Among South Korean conglomerates, the LG group, which owns LG Electronics, has opened a holding company umbrella, and the Lotte group has announced it will do the same come October. It said such a change carried more risks than benefits. "The company believes a holding company does not have clear benefits compared to the advantages of the company's current business structure", Samsung said.

The South Korean tech giant on Thursday rejected pressure from an activist shareholder for a major overhaul of its complicated structure.

Samsung Electronics shares were down 1.3 percent, while the wider market.KS11 was down 0.3 percent as of 0002 GMT.

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