>> A record breaking second quarter on the cards for Samsung. The tech giant expecting a 72% on year jump, thanks to a growing demand for memory chips capable of powering complex cloud servers and smartphones. Samsung estimates operating profits in June was $12 billion, beating analyst's predictions. It's another stellar report card for the company that boosts expectation.
Samsung's 2017 earnings will be the best ever, thanks to both the chips and a new cash cow, flexible next generation OLED panels. The company´s likely to sell those to Apple next month for use in the next iPhone this fall. Samsung said this week, it would invest $18 billion in South Korea to keep the lead in chips and screens, a move that promises to create half a million jobs.
That announcement seemed targeted towards investors worries big decisions were on the back burner while de facto leader Jay Y Lee faces bribery charges in court. And Samsung's newest Smartphone model comes next quarter. All eyes will be on the Galaxy Note 8's success, after last year's model was recalled over batteries prone to catch fire.