Drew Angerer | Getty Images
A view of the new Samsung Galaxy S8 at its Samsung launch event, March 29, 2017 in New York City.
Samsung’s shares are up more than 70 percent in the last year, thanks in part to its strong earnings and continued diversification of its business. The company has been focusing on its memory chip division and display technology, which it is reportedly selling to Apple for its anniversary edition iPhone. But Samsung’s mobile business still makes up a large chunk of revenues and the pre-order information has been taken positively by investors.
Last week, Samsung released earnings guidance in which it said it expects a nearly 50 percent jump in operating profit in the January-March quarter. Analysts are expecting Samsung to report a record high profit in the second quarter thanks to the Galaxy S8.
Koh also said that Samsung will use the Galaxy S8 to recover in China, according to Reuters. Samsung has struggled to get into the top five smartphone vendors list in the world’s second-largest economy in recent years due to increased competition from domestic brands like Oppo, Vivo and Huawei.
