The company attributed the huge sales of its new Galaxy S8 smartphone and demand for its memory chips for the rise April-June.
"Looking ahead to the third quarter, the company expects favourable semiconductor conditions to continue", Samsung said in a statement on Thursday. That's not the division where most of the profit originated, though, but rather Samsung logged a stellar quarter because of growing demand for its memory chips, OLED display panels, and other humble components it has been building capacity for in the last decade or so. Overall, Samsung in a filing said operating profit rose 72.7 per cent to 14.1 trillion won in the second quarter, versus 14 trillion won estimated in July.
The Journal also said the record-breaking results also position Samsung to top Apple in quarterly profits for the first time. Kim Ji-yeon, Arirang News. But, as a recent report on The Next Web suggests, none of us seem to really care. From budget friendly entry level phones to flagship powerhouses - Samsung's Galaxy series is truly a star studded affair.
The report also notes that while Walmart has had an impact on stores closing in local markets, there were likely other contributing factors that led to their demise.
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Samsung's profits come at a time when the company is embroiled in a major scandal in South Korea. "As these [cloud infrastructure] players grow, they will only need more chips and that helps Samsung". After the leaked photos, it's time to see what the smartphone has in the belly.
Then comes the big one: Apple is expected to announce three new iPhones in September.
In contrast, Samsung has seen a 38 percent rally in the same period. The Pixel 2 is expected to build on that success.
Galaxy Note 7 was an utter failure from the company. Samsung is expected to fancy something extra and more than just pairing the Note phone with its signature stylus. Samsung might follow the very aforementioned release pattern for Galaxy Note 8 Emperor Edition as well.