Biggest profit in 2 years for Samsung

Korean Samsung says profit in its previous quarter was the largest profit in the past 2 years, thanks to the excellent sales of its flagship product, the Samsung Galaxy S7.

75 million smartphones

Not only did the Galaxy S7 and S7 Edge perform great, the mid-range and budget smartphones also sold well. Samsung lowered the number of smartphone models it launched, but that also meant it could lower costs.

In total, the company managed a 5.85 billion won (4.6 billion euro) profit, up 2 % compared to the year before and better than what analysts had expected. Turnover grew 5 % to 50.94 billion won (40.7 billion euro).  

In the second quarter, Samsung managed to ship between 75.6 and 78.3 million smartphones, almost twice as much as competitor Apple’s iPhone. It was also a major surprise Samsung managed to beat analysts’ expectations, while the worldwide smartphone market’s growth is actually slowing down.