Seoul — The CEO of Samsung, Kwon Oh-hyun, resigned on Friday, saying the South Korean tech giant was facing an “unprecedented crisis”, even as it expected profits to hit a record high in the third quarter. Kwon’s resignation comes as the company struggles to overcome a bribery scandal that sent Lee Jae-Yong, its de facto head and heir to the Samsung empire, to jail. But in a sign of good news for the company, its estimated operating profits for the July-September period of 14.5-trillion won ($12.8bn) marked a record for quarterly profit, nearly tripling the 5.2-trillion won earned a year earlier. Sales are expected to have surged 29.65% on-year to 62-trillion won, with the booming semiconductor business boosting the company’s bottom line.
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