Samsung forecasts a strong quarter

Samsung Electronics has two announcements today, contrasts starkly with a different tone. First, it gave an optimistic third-quarter earnings forecast.

Then, a few hours later, a resignation letter of chief executive officer and vice chairman Oh-Hyun Kwon, the said booked, it is time for a new leadership, as the company is facing an “unprecedented crisis inside out”, techcrunch computer-news infoIn respect of the profits of the chaebol a good year so far, posting strong first and second quarter, thanks to its component business, Kwon is also supervised. From a leadership perspective, however, the Samsung is a very difficult year. In August, Samsung’s vice chairman Jay Y. Lee, was to replace the widely expected end to your suffering father Lee Kun-hee, Chairman of Samsung group, was sentenced to five years in prison after being found guilty of bribery, embezzlement, capital flight, and perjury charges.

Kwon, who began their service as Samsung Electronics CEO of the year 2012, also to leave plans, his role as head of the components and display units, and is not up for re-election to the Board.

techcrunch computer-news info

In a letter to employees, Kwon wrote that his resignation “is something I had been thinking long and hard about for some time. It was not an easy decision, but I think I can’t put it off any longer. We are faced with unprecedented crisis from the inside, I think the time has now come for the company to start anew, with a new spirit, and the state line, in order to better responding to challenges arising from the rapidly changing IT industry.”

Kwon, Samsung in the year 1985 as a researcher, adding that it “needs a new leader more than ever before, and it’s time for me to move on to the next Chapter in my life.”

Despite the upheaval in its management ranks, Samsung expressed optimism that third-quarter earnings forecast today, forecast group operating profit of about 14.5 trillion Korean won ($12.8 billion). This amount corresponds to a very healthy 179-percent increase from 5.2 trillion won it reported in the third quarter of 2016, when its results were hurt by the absence of the Galaxy Note 7.

Samsung is expected to continue, benefiting from the sale of parts to other smartphone makers, including Apple. If Samsung products like the Galaxy series to compete with iOS devices, Apple relies on Samsung’s key components. For example, Samsung is the world’s largest producer, with a volume of OLED displays, which switched to Apple for its latest iPhones.

Samsung is also expected in the third quarter, consolidated sales of 62 trillion won. With the introduction of the Galaxy Note 8 a month ago, after the release of the Galaxy S8 and S8 Plus earlier this year.