Galaxy S7 and S7 edge helped Samsung to achieve its best quarter in two years
Galaxy S7 and S7 edge helped Samsung to achieve its best quarter in two years
As expected, Samsung posted its best quarterly earnings report in two years due to the strong sales of the Galaxy S7 and S7 edge.
Samsung reported operating profits of 8.14 trillion won (US$7.2 billion) with 50.94 trillion won (US$45 billion revenue) for Q2 2016. The Korean company cited 'expanded sales of flagship products such as the Galaxy S7 and S7 edge", and "a streamlined mid to low-end smartphone lineup" as factors contributing to the higher profitability.
Other businesses such as components, display panel, semiconductors also performed well in the last quarter. Looking ahead, Samsung expects the rest of the year to be good with "solid performance". The upcoming launch of the Galaxy Note 7 should continue to drive mobile sales for the company.