Samsung released its earnings for the second quarter of the year today. The company has posted record operating profits and has become the most profitable tech company on the planet this past quarter.

The company has also revealed some details about its strategy for the second half of this year. Samsung expects demand for smartphones and tablets to increase in the second half due to strong seasonality, however, it is cognizant of the fact that there’s going to be strong competition from its rivals.

To that end, the company will be launching a new smartphone next month, the much-awaited Galaxy Note 8. Samsung has also said that it’s going to work hard to maintain the sales momentum of the Galaxy S8.

In a conference call with analysts this morning after releasing the earnings results, a Samsung executive mentioned that the Galaxy Note 8 will be well suited for those who like to consume a lot of multimedia content on their handsets.

“The Galaxy Note series, first launched in 2011, come with a range of multimedia features, including the large-size display, and S Pen, only available with the smartphone models,” the executive said, adding that the Galaxy Note 8 is going to have “more advanced, richer multimedia functionalities.”

Samsung is due to unveil the Galaxy Note 8 on August 23 in New York City.