Samsung Electronics has announced a record quarterly profit thanks to an increase for their memory chips.

Top South Korean Tech Company has announced an operating gain of 14 trillion won ($12bn; £9.3bn) in the space of three months to June, and it will rise to 72% in the next year.

Demand rose to 18% to 60 trillion and was boosted by sales of smartphones along with the new flagship Galaxy S8.
Analyst’s reports indicate that Samsung has regained from the devastating Galaxy Note 7 memory. That handset fell after a battery defect led to few devices catching fire.

Also on Friday, Samsung unveiled its latest phone in South Korea adopting fraction from the Note 7 to “reduce the environmental influence” on its previous high-profile mistake.
However, few research firms foresee that Samsung is bent on beating Intel as the top ranked world biggest chipmaker by purchase this year.

It has advanced from both hike in sales and financial value for memory chips, or semiconductors which are applied in computers and smartphones.
The Note 7 crashes affected Samsung’s image and lead to drop of its spot as the Top ranked world’s biggest smartphone builder in the first quarter.

Rise In Competitor’s Market Share

Competitors like Xiaomi, Oppo, china’s Huawei and Apple expanded its market stake due to a subsequent memory from Samsung earlier mistake.

The South Korean tech giant Samsung has also detected that its image dint by the detention and continuous trial of de-facto chief Jay Y. Lee over a political extortion gossip. However, which Mr Lee rejects all charges.