With the Galaxy Note 7 debacle clearly in its rearview mirror, Samsung is predicting record-setting second-quarter profit. The South Korean tech giant on Friday said it expected consolidated operating profit to surpass $12 billion during the period.
Year-over-year, that would represent a 72% increase in profit for the hardware maker.
Revenue should surpass $52 billion -- up 18% annually -- during the quarter, Samsung expects. For its bottom-line boost, the company is crediting the success of its Galaxy S8 smartphone and strong memory-chip sales.
Earlier in the week, Samsung said it plans to pump more than $18 billion into its memory-chip business.
Albeit a little late to the game, Samsung also has big plans for Bixby, its virtual assistant. Unveiled in March, the assistant’s U.S.-launch has been delayed.
Bixby is “fundamentally different” from rival assistants, InJong Rhee, head of R&D at Samsung’s software and services division, said earlier this year.
That’s because Bixby can perform more tasks than most assistants, understand commands with incomplete information and better appreciate context.
Last year, Samsung took a roughly $3 billion hit, due to its explosively flawed Galaxy Note 7. By the fourth quarter, however, profits were already up by 50%, year-over-year.