Samsung Second Quarter 2017 Profit on track to Beat Apple

Samsung Electronics has just revealed its second quarter of 2017 and reports a record-breaking operating profit. Samsung Second Quarter 2017 Profit on track to Beat Apple. As the company generated an operating profit of $12.7 billion and $9.7 billion in net profit.

Samsung Second Quarter 2017 Profit on track to Beat Apple

Operating profit rose 72.7 % in the second quarter from the same period a year earlier, to 14.1 trillion won ($12.67 billion). That compared with 14 trillion won estimated in July.

Revenue rose 19.8 percent to 61 trillion won, also in line with its earlier estimate. That revenue figure rose by 20 percent year-on-year, but net profit jumped 89 percent.

Samsung said in its report.

Samsung’s revenue for the quarter was KRW 61.00 trillion, an increase of KRW 10.06 trillion YoY, while operating profit for the quarter posted a record KRW 14.07 trillion, an increase of KRW 5.92 trillion YoY.

The increase in revenue is due to high-demand for DRAM and NAND memory chips. The company’s semiconductor division brought in $7.2 billion in operating profit. Whereas, the mobile division, generated $3.7 billion in operating profit thanks to the Galaxy S8 series. Sales of the company’s flagship devices are around 15% higher when compared with their predecessors.

As now, Samsung is planning to launch Note 8. Samsung mobile CEO DJ Koh has confirmed that the Galaxy Note 8 will launch in late August. Moreover, the phone will be go on sale between September and October. Some rumors claim that Note 8 will launch on 23rd August.

Also Read: Samsung Confirms Galaxy Note 8 Launch Date in Late August