Samsung announces its biggest quarterly profit in two years thanks to the Galaxy S 7

Jul

28

2016

Samsung Thursday announced financial results for the three months ended June 30 last, which showed a rise in quarterly revenue for the second quarter in a row after a long decline for two years.

The Korean electronics giant said in a statement that its revenue rose 18 percent to 8.1 trillion won ($ 7.17 billion) compared to the same period last year, the highest since the first quarter of 2014.

The Department of portable devices of the Samsung is still the biggest gainers for the second consecutive quarter, as profits jumped by 57% compared to the same period last year to about 4.32 trillion won.

Samsung said Thursday it expects strong earnings during the second half of this year, as it is likely to increase the demand for components, such as memories and screens, offset increasing pressure on profit margins of smart phones.

While smartphones profits seemed volatile, the company said, which is the largest manufacturer of smart phones in the world, that the components sector will boost second-half profit amid signs of a recovery in prices after the global slowdown in hardware sales.

It is expected that Samsung next week reveal her phone Galaxy Note 7, it is likely to start selling her tablet almost a month before the launch of rival Apple’s next generation iPhone phones in the month of September / September.

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