Galaxy Note 5 receiving Nougat update in Korea with build N920SKSU2DQC7

In an earnings guidance report, Samsung said its first-quarter operating profit for this year advanced 48.2 percent on-year to reach 9.9 trillion won (US$8.76 billion), apparently helped by the robust performance of its chip business. As per a report, Analysts claims that Samsung must have generated about $1.8 billion worth of profit in Q1 2017 after incurring a hefty loss of $5.3 billion a year ago due to the Galaxy Note 7.

Revenue for the quarter rose 0.4 per cent to 50 trillion won, compared with analysts’ forecast of 49.4 trillion won. But that might not be such a bad sign, considering the Galaxy S7 launched in Q1 previous year and the Galaxy S8 isn’t going on sale until later this month – not to mention the fact that Samsung doesn’t have a new Galaxy Note on sale right now.

If you follow the tech industry closely, the one thing that pops up on your mind when you have to recall what’s happened in the year 2016 is the Samsung Galaxy Note 7 fiasco.

In his first court appearance in what is being called “the trial of the century”, Samsung executive and company board Vice Chairman Lee Jae-yong denied claims that he sent bribes to South Korea’s former president in order to expand his influence over the company. “It will give a big boost for Samsung’s earnings from the second quarter”, said Lee. Experts estimate Samsung to have earned more than 6 trillion won from chip business in the first quarter, beating 4.95 trillion won profit in the fourth quarter.

Samsung is headed towards the completion of the Galaxy Note 8 as the Galaxy S8 series becomes official.

Analysts also said Samsung was likely to continue benefitting from the strong global demand for memory chips, especially NAND flash chips used for long-term data storage, throughout this year. Even so, will this regain its reputation after the Samsung Galaxy Note 7 exploding issue?

A report from Sam Mobile claims that firmware development for the device has officially kicked off for the worldwide variant of the Samsung Galaxy Note 8, which is codenamed “Great”.

Samsung will deliver the official results later this month.