Samsung Profits Reaches peak point in two years
Samsung Electronics Co reported on Thursday that the earnings results that were the best in two years as consumers have snapped up their Galaxy smartphones. This is a sign that the company is getting back and on the other hand, the rival companies fail to deliver the new smartphones.Samsung Profits increase reaching highest mark in last 2 years.The South Korean company says “The net income from April and June has roes with the 2 percent over the year and earlier to 5.85 trillion won when compared with the 5.75 trillion won in the previous year.”
This is somewhat higher than the predictions, and the things have been revised up in the recent months and to reflect stronger than the sales that are expected for the new smartphones. The analysts have forecasted that the net income of 5.79 trillion won.
These are the reports given by the FactSet, one of the financial data provider.The sales were increased from 5 percent to 50.94 trillion ($45 billion) won, while on the other hand, the operating profit has surged with 18% to 8.14 trillion won ($7.19 billion) in the line with the company’s guidance in the starting of this month.
Samsung is the world’s largest smartphone maker which beats the predictions even with the growth in the entire smartphone industry and with their rival Apple, which is world’s second-largest smartphone maker, struggles to lead their sales for the iPhones.Earlier in this week, Apple reported that there is 27% drop in the profits and the hit by the decline in their sales of the iPhone.
Samsung has introduced their first ever edge flagship smartphones series in the previous year which is featured with the curved displays on both the corners of the device. As it failed to gain the demand after the release for the issues and troubles raised into the mass producing of the curved displays in the year 2015.
After the success of the Samsung Galaxy S7 smartphones, this boosted the Samsung’s component businesses like never before. Samsung says that there is the higher demand for the flexible displays for the S7 edge and the healthy sales of the other flagship smartphones. This sale also includes the other components like OLED or the organic light-emitting diode; display panels were raised higher. This helps in increasing the growth of the sales of the Samsung smartphones and the components. Therefore, Samsung dominates the global supply of OLED display panels for mobile phones from the other manufacturing companies.