Judgment day looms for Samsung chief

As Samsung rolled out its latest flagship smartphone at a splashy media event in New York City, the company's de facto chief sat in a jail cell in Seoul.Lee Jae-yong, the billionaire scion of South Korea's most powerful business dynasty, is set to discover his fate Friday. A court will deliver its verdict on whether he's guilty of bribery and other corruption charges.Dubbed the "trial of the century," Lee's case has gripped the country for months, channeling widespread discontent over the cozy ties between big business and government.

The 49-year-old executive, who's also known as Jay Y. Lee, could end up spending 12 years in prison if prosecutors get their way. But that prospect doesn't seem to be hurting Samsung's massive electronics business.During Lee's trial, Samsung Electronics' (SSNLF)share price has hit a record high as the company posted bigger profits than Apple (AAPL, Tech30)and higher microchip revenues than Intel (INTC, Tech30). Strong sales of flashy new smartphoneshave also helped it move on from last year's debacle over the fire-prone Galaxy Note 7.Related: Samsung's Galaxy Note 8 phone aims to rebuild consumer trustThe combination of corporate success and criminal allegations crops up frequently in South Korea. Collusion between powerful family-run conglomerates, known as chaebol, and the government is a longstanding problem in the country.