Samsung to ride soaring chip profits for Q1, Galaxy S8 aura in 2017

Seoul

RECORD earnings at Samsung Electronics Co Ltd's chip division are set to propel the tech giant's first-quarter profit to a three-and-a-half-year high, and the quarters ahead could be even better if its newest smartphone, Galaxy S8, is a success.

A boom in memory chips spurred by demand from smartphones and servers has helped Samsung tide over the costly failure last year of its Galaxy Note 7 smartphone and management turmoil. Vice-chairman Lee Jae-yong is on trial for bribery and other charges linked to a corruption scandal that led to the ouster and arrest of South Korean president Park Geun-hye.