Samsung reports most profitable quarter for two years
Today, Samsung reported its Q2 (April – June) 2016 results and the stats show that this is Samsung’s highest profit for the last two years. The Galaxy S7 has been stated as the core reason behind this, though Apple’s falling iPhone sales may have helped as well. The technology giant, Samsung, has reported that it had won a revenue of $45.2 billion and an operating profit of $7.22 billion in the second quarter of this year. This is an 18% annual increase and a 5% quarterly increase in profits for the Korean tech company.
According to Samsung, in the first two quarters of this year (Q1 and Q2 2016), the sales of flagships such as the Galaxy S7 and Galaxy S7 Edge along with a more successful mid-range Galaxy J series has helped the company generate substantial profits. Another interesting stat here is that the Galaxy S7 Edge had higher sales than the Galaxy S7, the higher profit margin (and higher price tag) for the Galaxy S7 Edge helped the company achieve this feat as well.
Samsung further stated that it will look to be consistent with these results, while competitors “come up with new mobile devices”. This is mainly targeted to Samsung’s rival, Apple who is expected to launch the iPhone 7 in mid-September. However, Samsung still has the Galaxy Note 7 up its sleeve that is expected to launch on the 2nd of August, next week. If the Galaxy Note 7 turns out to be just like it has been rumored, we might as well see Samsung dominating Q3 profits this year as well!