Samsung Electronics (SSNLF, 0.00%) forecast on Friday its best quarterly profit in more than three years in the January-March period, beating expectations and putting it on track for record annual earnings on the back of a memory chip super-cycle.
The Apple rival has rapidly recovered from last year’s costly failure of its fire-prone Galaxy Note 7 device, despite a political scandal involving Vice Chairman Jay Y. Lee who appeared in a Seoul court on Friday facing charges including bribing ousted president Park Geun-hye.
