Samsung expects to post record operating profit in 2Q17

Samsung to invest $18 billion in memory chip business

Its semiconductor division - which is enjoying an all-time-high demand for memory chips - likely contributed the lion's share, coupled with a recovered mobile division thanks to strong sales of the Galaxy S8 series. That represents a 72 percent year-over-year jump, continuing the record-breaking streak from Q1. For the first time ever, its second-quarter operating profits could also exceed those of iPhone maker Apple Inc. The exact figure would be out by the end of this month when final figures of the quarterly performance of both companies would be out.

Kwon Seong-ryul, a researcher at Dongbu Securities Co, projects annual operating profits of 50 trillion won for this year, up 70 percent from last year.

That would reportedly make it more profitable in the period than United States behemoth Apple Inc, where consensus analyst forecasts point to a profit of US$10.6 billion.

Samsung also announced on Thursday that it plans to invest $18.6 billion into its home country in an effort to further extend its lead on its competitors when it comes to memory chips and next-gen smartphone displays. Moreover, Samsung Electronics is also expected to account for 30.5 percent of the total operating profits of KOSPI-listed firms, up from 25.5 percent at the previous quarter.

The firm's shares extended their losses following the weaker-than-expected guidance and closed down 4.2 percent, compared with a 0.3 percent fall for the broader market.

The bitter scarce caused due to the failure of Samsung Galaxy S7 are healed with the sales of Samsung Galaxy S8 smartphones this year.

The company seems to be more than making up for the loss of reputation it suffered after its Galaxy Note 7 flagship started exploding due to a battery defect.

Samsung - which accounted for more than 40% of global memory chip sales in the first quarter of this year - posted in April its biggest quarterly net profit in more than three years.

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