Samsung Records Highest Quarterly Profits Thanks To Increased Demand Of Galaxy S7 and Galaxy S7 Edge.
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Samsung Records Highest Quarterly Profits Thanks To Increased Demand Of Galaxy S7 and Galaxy S7 Edge.

Samsung Records Highest Quarterly Profits Thanks To Increased Demand Of Galaxy S7 and Galaxy S7 Edge.

South Korean mobile phone manufacturing giant Samsung is once again at the top of its game thanks to the increased demand of its two flagships Galaxy S7 and S7 Edge.

Recently, Samsung announced its financial results for Q2 (the quarter ending June 30), with a revenue of KRW 50.94 trillion (around $45.2 billion) and an operating profit of KRW 8.14 trillion (or $7.22 billion). The revenue was up 5% y-o-y, while operating profit rose 18%. The company's mobile unit accounted for more than half of the total revenue as well as profit.

At a press release, the company spokesperson mentioned, "Samsung’s earnings improved QOQ thanks to strong sales of its flagship Galaxy S7 and S7 edge smartphones. Additionally the company achieved growth in the second quarter by maintaining the profitability of mid- to low-end models, such as the Galaxy A and J series, and improving the product mix by raising the sales proportion of the Galaxy S7 edge to over 50 percent."

Samsung is hoping to continue with the same good luck charm for the Q3 with the release of its new flagship Galaxy Note 7.

The company spokesperson also added that this is Samsung's best quarterly performance since early 2014.