Samsung Reports Highest Profits in 2 Years
Samsung Electronics has posted an operating profit of 8.14 trillion won, or $7.19 billion, for the second quarter. That's an 18 percent year-over-year increase and the company's highest earnings since the second quarter of 2014. The mobile division performed particularly well with an operating profit of 4.32 trillion won or $3.82 billion.
During the quarter, the company shipped between 75.6 million and 78.3 million smartphones—nearly twice as many as Apple's 40.4 million iPhones shipped. Samsung said that strong sales of the Galaxy S7 and Galaxy S7 Edge smartphones contributed to its success. It added, "Looking ahead to the second half of 2016, the company expects its solid performance to continue compared to the first half, mainly driven by earnings increase in the component business."