It seems Samsung has now put the Note 7 disaster completely behind it, as the company forecasts that its Q2 profits will break all previous records. The firm announced that its second-quarter operating profit likely rose 72 percent year-on-year to…
It seems Samsung has now put the Note 7 disaster completely behind it, as the company forecasts that its Q2 profits will break all previous records. The firm announced that its second-quarter operating profit likely rose 72 percent year-on-year to around 14 trillion won (around $12.1 billion) , with revenue estimated to come in at 60 trillion won ($52 billion)
While the popularity Samsung’s Galaxy S8 and S8+ played a part in its expected record-breaking quarter, the company owes a lot of its success to rival Apple and its upcoming new iPhones. The Cupertino company signed a deal with Samsung for 100 million OLED screen last year, before reportedly ordering 60 million more in February.
Samsung won’ t be revealing a financial breakdown of divisions until it reports audited results at the end of July, but more than half of the profits is expected to have come from its semiconductor business, especially in light of the increasing prices and high demand for DRAM and NAND memory chips.
Some analysts believe Samsung could, for the first time, bring in a larger quarterly profit than Apple, which is expected to report revenue of around $44.9 billion and an operating profit of $10.49 billion for Q2.
Despite the news and the potential for another record-breaking Q3, Samsung’s shares dipped 0.3 percent this morning as the earnings outlook was already priced in. Company stock is, however, up 30 percent in 2017, and edging closer to an all-time high. Let’s just hope that the Note 8 performs better than its predecessor.
