Surge in second-quarter smartphones sales likely helps Samsung to best quarter in two years

General

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There's a consensus among market analysts that Samsung is going to have a pretty good second quarter owing to the stellar performance of its smartphone business which has primarily been aided by the Galaxy S7 and the Galaxy S7 edge. Samsung is expected to issue guidance for its best quarterly profit in over two years.

Analysts expect a 13 percent increase in operating profit over the same period last year. Samsung is likely to post an operating profit of 7.8 trillion won ($6.8 billion) which will be the highest since the 8.5 trillion won profit it posted back in the first quarter of 2014. Samsung's mobile and memory chips business are believed to be its top earner for the second straight quarter, even though the company has not provided official figures yet some analysts believe it shipping around 16 million Galaxy S7 and Galaxy S7 edge units between April and June this year. Samsung is going to reveal its earnings estimates for the second quarter later this week.

Adnan Farooqui - Executive Editor

[email protected]

First Samsung device: SGH-E900

Adnan Farooqui is a long-term writer at SamMobile. Based in Pakistan, his interests include technology, finance, Swiss watches and Formula 1. His tendency to write long posts betrays his inclination to being a man of few words.

Source General Earnings Samsung Electronics

Surge in second-quarter smartphones sales likely helps Samsung to best quarter in two years

Adnan Farooqui - Executive Editor

[email protected]

First Samsung device: SGH-E900

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