Samsung Galaxy C7 Pro Unveiled in India, Priced at Rs 27990 ($436)

Meanwhile, Analysts also predicts Samsung will soar up its operating profits to KRW (Korean Won) 50 trillion by the end of this year which is roughly $44 billion.

Not wanting to be far behind, Samsung earlier in the day announced that it estimates the first quarter will produce its best quarterly profit in more than three years, reflecting record earnings off a memory chip super-cycle.

Profits are expected to have increased by a big 48% and the company says the profit for Q1 2017 was likely $8.8 billion, or 9.9 trillion won.

It was only a few weeks ago that Samsung confirmed the ongoing rumors that it would release the ill-fated Galaxy Note 7 on the world once again as a refurbished device. Sales of its new G6 flagship smartphone began in March and will not provide meaningful contributions until the second quarter.

After the Galaxy Note 7 battery explosion fiasco in 2016, which affected the company's revenue, the first quarter of 2017 is very important for Samsung.

The Samsung Galaxy S8 was launched last month in NY and London.

The performance of Samsung's Galaxy S8 premium smartphone, which goes on sale on April 21, will be the key variable for Samsung going forward. He and Samsung have denied wrongdoing. An issue that caused Samsung's own Vice Chairman Jay Y. Lee to be arrested and he is now facing charges for bribing their former president Park Geun-hye.

While some companies have been struggling financially for quite a bit now, Samsung has been able to hold strong over the last couple of years.

Samsung has released its Q1 2017 estimates a week after unveiling its 2017 flagship smartphones i.e. the Galaxy S8 and Galaxy S8+ at its "Unpacked" event in NY. Lee is accused of funneling more than 38 million dollars to entities controlled by former President Park Geun-hye's confidante Choi Soon-sil in exchange for support for a 2015 merger of two Samsung affiliates that was deemed critical to cementing Lee's succession to the top of Samsung Group.

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