‘Expanded’ Galaxy S7 sales help Samsung post record two-year profit
Apple somehow managed to defy market trends for the large part of last year, seeing both iPhone shipment numbers and overall earnings surge quarter after quarter, and now, it’s Samsung’s turn to beat analyst estimates and the industry’s general stagnation with strong performance from high and low-end Android devices.
Obviously, the flagship Galaxy S7 duo was the main driver of profit during Q2 2016 as well as Q1, but Samsung takes the time once again in its latest financial report to acknowledge the essential part played by the Galaxy A and J series in achieving growth across the board.
Pretty significant growth too, from KRW 48.5 trillion revenue to KRW 50.94 trillion ($45 billion+) year-over-year, and from less than 7 trillion won to KRW 8.14 trillion ($7.22 billion) in operating profit. It’s also worth pointing out both those figures have risen compared to the previous quarter scores of KRW 49.78 trillion and KRW 6.68 trillion respectively, which is no small feat, given the GS7 actually debuted commercially in March.
Up next, it’s the Galaxy Note 7 that should “maintain solid sales of high-end smartphones” in H2 2016, though the S7 and especially the S7 Edge are expected to remain relatively popular at least a little while longer.
All in all, these are Samsung’s best results in over two years, and it’s thanks to the mobile unit, but also the display panel segment, consumer electronics division, and last but not least, the thriving semiconductor business.
Source: Samsung Newsroom