Samsung Electronics has posted huge profit for Q2 2016, its highest 2 years. This is on the backbone of high sales for the S7 and S7 edge smartphones. The operating profit was 8.14 trillion won ($7.22 billion), an 18 percent increase.
The mobile division drove more than half of the profit, pushed by the successful Galaxy S7 and S7 Edge. The sales are skewed towards the more expensive edge version, which is good for profit. Samsung also reduced their low to mid range line up. The move is indeed paying off. The Galaxy A and J series also maintained mid range profitability.
The component business also showed a good performance. This is the arm that produces chips and display. However, the arm’s profit dropped by 0.3 trillion won ($266 million). This is due to a decline in the industry.
Since they saw a success with the Galaxy S7 and S7 Edge, Samsung expects a strong third quarter as well. They are releasing the oversized Galaxy Note 7 on the second of August.
Source: Samsung Newsroom