Galaxy S7/S7 edge demand pushes Samsung to record profit in over two years

Samsung has announced its financial results for Q2 (the quarter ending June 30), revealing a revenue of KRW 50.94 trillion (around $45.2 billion) and an operating profit of KRW 8.14 trillion (or $7.22 billion). The revenue was up 5% y-o-y, while operating profit rose 18%.

This is Samsung’s best quarterly performance since early 2014.

The South Korean company’s mobile unit accounted for more than half of the total revenue as well as profit. “Samsung’s earnings improved QOQ thanks to strong sales of its flagship Galaxy S7 and S7 edge smartphones,” the firm said in a press release.

“Additionally the company achieved growth in the second quarter by maintaining the profitability of mid- to low-end models, such as the Galaxy A and J series, and improving the product mix by raising the sales proportion of the Galaxy S7 edge to over 50 percent.”

For the third quarter, Samsung is banking on a “new large-screen flagship smartphone” to maintain the sales momentum – needless to say the company is talking about the Galaxy Note7 here.

Source