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"The Galaxy S8 and S8 Plus, which were launched on April 21, show robust initial sales," Samsung said in a press release. For the full year, smartphone market demand should "slightly increase" because of customers replacing their older mid- and high-end phones. But competition "is expected to intensify."Samsung may be best known as the world's biggest maker of phones and TVs, but it's also a major player in the semiconductor industry. It's the world's largest vendor of memory chips and the second biggest processor maker overall after Intel. Along with designing processors for some of its own devices, Samsung manufactures processors created by other companies, like wireless chip giant Qualcomm.

Despite a financial sushi yoga iphone case hit from the Galaxy Note 7 in previous quarters, Samsung managed to generate strong results because of its components business, The company on Wednesday attributed its strong results to that business, Revenue from Samsung's semiconductor business jumped 40 percent to 15.66 trillion won ($13.8 billion), while sales from memory chips alone soared 53 percent, The company said it benefited from focusing on high-density DRAM and NAND flash and "value-added products for datacenters, enterprise SSDs and flagship smartphones." Even though demand wasn't as robust for memory, pricing remained strong in the period because of limited supply, That tight supply should continue in the second quarter, Samsung said..

Samsung's display panel segment also saw revenue jump, up 21 percent to 7.29 trillion won ($6.4 billion). It expects demand for its flexible OLED displays to rise in the second half of the year. Samsung has been rumored to be a supplier of displays for the next iPhone. The company said its overall operating profit soared 48 percent to 9.9 trillion won (8.7 billion), while revenue for the quarter totaled 50.55 trillion won ($44.6 billion), up slightly from 49.78 trillion won a year ago. The numbers are in line with Samsung's estimate from earlier this month. Its revenue projection was better than analysts expected at the time.

Samsung on Wednesday also said it completed a review of its corporate structure, and it ultimately decided not to convert to a holding company structure, "The review found that a holding company sushi yoga iphone case structure would not strengthen the competitiveness of the company's businesses and could potentially weigh on the company's operations longer term," Samsung said in a press release, Special Reports: CNET's in-depth features in one place, Technically Literate: Original works of short fiction with unique perspectives on tech, exclusively on CNET, Original works of short fiction with unique perspectives on tech, exclusively on CNET.'..

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