Analysts expect tight supply conditions for memory chips to continue this year, particularly in NAND flash chips used for long-term data storage, keeping Samsung's margins padded. That leaves the mobile division as the key earnings variable, they said.
Samsung ceded the smartphone crown to arch-rival Apple Inc for the fourth quarter of 2016 after being forced to pull the fire-prone Note 7s from the market in October. The hope is the S8 will help Samsung regain its lead.
The S8, sporting the largest screens to date among all of Samsung's flagship phones as part of a design revamp, has been praised following the March 29 launch in New York.
Some analysts and Samsung's head of smartphone business expect the phone's first-year sales to beat that of predecessor S7, setting a new record for the South Korean company.
"We think the S8 series will definitely be a strong flagship for Samsung and help it gain back market share," Counterpoint analyst Tom Kang said.
"The launch of the fully revamped iPhone 8 will also be threatening. But there is also pent up demand for Samsung devices rolling over from last year due to the disappearance of the Note 7," he said. "So those 2 factors will balance out."
Samsung will only provide estimates for January-March revenue and operating profit on Friday and will disclose detailed results in late April.