South Korean tech giant Samsung Electronics reported a second quarter net profit of 11 trillion won ($9 billion), up 89 percent year-on-year, the company said in a statement. Samsung’s operating profit reached a record level of 14.1 trillion won, up 72.7 percent. Its turnover also hit a record high, achieving 61 trillion won, up 19.76 percent, Efe news quoted the statement as saying. Also Read - Best TWS earbuds under Rs 2,000 in September: Realme Buds Q2, boAt Airdopes 281 Pro, and moreAlso Read - Apple Watch Series 6 oximeter reliable way to check heart rate, SpO2 in lung disease patients: Study
The numbers appear to be in line with a report on the expected profit they released on July 7. This would make the South Korean company the most profitable tech firm in the world, beating the US-based Apple Inc. In the second quarter, the divisions producing semiconductors and components boosted the company’s accounts by jointly achieving 42.83 trillion won in revenue, which is 40.7 percent more than in the same quarter of 2016.
The chip unit achieved this performance thanks to strong demand for high-density DRAMs and SSDs for servers in a low-supply environment. The sales revenue of the company’s mobile division is also up 13 percent to 30 trillion won following the good public reception of the latest Galaxy S8 and Galaxy S8 Plus high-end models, but its operating profit was reduced due to an increase in component costs. ALSO READ: Samsung Galaxy S8 review: A combination of beauty, beast and near-perfection!
As for Samsung’s screen division, the revenue is up 20 percent to 7.71 trillion won due to a greater sale of organic light-emitting diode (OLED) screens for high-end smartphones and liquid-crystal display (LCD) large-format screens.
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