Samsung launches Galaxy C7 Pro in India, priced Rs 27990
- Author: Tracy Ferguson Apr 11, 2017,
Apr 11, 2017, 0:13
Kim Yong-Gu of Hana Financial Investment Co. said investors were also concerned that IT and automakers would be most affected if the USA report on foreign currencies due next week adds to United States pressure on South Korea to reduce its trade surplus.
But Lee's lawyer flatly denied the charges.
"Samsung will look to recover the market share they lost past year and pump up volumes even if they have to spend more to do so", IBK Asset Management fund manager Kim Hyun Su said.
The Samsung Galaxy C7 Pro, which released on Friday, takes on some formidable models in its product group.
Four other Samsung executives have also been charged.
Lee's father, Lee Kun-hee, the chairman of the conglomerate, has been incapacitated since May 2014 after a heart attack.
Such relations may have aided South Korea's rapid economic ascent but now are a source of growing public discontent and a key target of contenders in a May 9 snap presidential election. The elder Lee was arrested and convicted for tax evasion, bribery and price-fixing in 2008 and later returned to lead the company in 2010.
Lee is "the biggest beneficiary who reaped enormous profits", said special prosecutor Yang Jae-sik, according to a media pool report.
The verdict is expected to be delivered in late May. On one occasion, prosecutors said, Lee mentioned needing help in dealing with Elliott Management, a USA hedge fund that opposed the merger.
The quarterly earnings preview show that how Samsung's business is booming while its stock trade near historic highs, despite unprecedented crises in recent months.
The company's components business, consisting of display panels and memory chips, is likely to have helped boost the company's profit in the first quarter.
Over at Samsung headquarters meanwhile, the company reported preliminary operating profit of 9.9 trillion won ($8.7 billion) for the first quarter of 2017, a jump of nearly 50% from a year ago, CNN reported. Its first-quarter operating profit neared the historic high of 10.2 trillion won in the third quarter of 2013 by adding 7.4 percent to the strong fourth quarter on a spike in both worldwide chip prices and demand.
However, Sam Mobile did get a hold of the build numbers of the refurbished version of last year's Samsung Galaxy Note 7, which will be made available exclusively to Korea only.
The refurbished Galaxy Note 7 is touted to arrive in India and Vietnam, although Samsung's local division from the former country recently refuted the rumor, before the company officially announced the program for recycling and refurbishing Galaxy Note 7 smartphones.