Samsung Galaxy Note 8 Officially Confirmed; Company Says It Is Launching Another Flagship In Late 2017

Samsung released its quarterly earnings for the first quarter of fiscal year 2017. While the company posted a profit of $8.7 billion making the quarter its second-best ever, it also made an important announcement — it would be launching a second flagship device in late 2017.

Read: Samsung Galaxy S8 First Impressions Review

“For the mobile business, market competition is expected to intensify in the second half. Against this backdrop, the company will strive to maintain profitability through robust sales of the Galaxy S8 and S8+ and the launch of a new flagship smartphone in the second half,” the company said in its press release.

While the company did not name the device, it is evident, going by the company’s tradition of launching two flagship devices since 2010, that the second device being hinted at is the Samsung Galaxy Note 8. This is the first official indication of the existence of the Note 8.

While the device has been surfacing in rumors and leaks, Samsung has kept mum about it. The Note 8 is an important smartphone release for Samsung, since it will majorly help Samsung to repair the series’ reputation after the Note 7, which exploded and caused the company a major crisis.

Samsung has already moved on from the Note 7 scandal with the release of its first flagship for 2017 – the Samsung Galaxy S8, but it is the Note 8, that will be a test of whether consumer still has trust in the Note brand.

Read: Samsung Galaxy Note 7 Investigation Finds Battery Caused Phone To Catch Fire

Owing to the Samsung Galaxy S8 release, the company says it expects its operating profit to increase further in the next quarter.

“For the mobile business, market competition is expected to intensify in the second half. Against this backdrop, the company will strive to maintain profitability through robust sales of the Galaxy S8 and S8+ and the launch of a new flagship smartphone in the second half,” the company said.

It also expressed high hopes from its “new flagship.”

“The company will aim to improve performance Year-on-Year by maximizing sales of the Galaxy S8 and S8+ and successfully launching a new flagship smartphone in the second half. In addition, the company will maintain profitability in the mid- to low-end segment.”