S7 sales lift Samsung’s profit into the Galaxy
Print Edition
TECH giant Samsung Electronics Co said yesterday that its second-quarter operating profit likely rose 17.4 percent from a year earlier, its highest in more than two years as Galaxy S7 smartphone sales propelled mobile earnings.
The world’s top maker of smartphones and memory chips said its April-June profit was likely 8.1 trillion won (US$7 billion), better than the average forecast of 7.8 trillion won tipped by a Thomson Reuters survey of 16 analysts. It was the highest since a 8.5 trillion won profit in the first quarter of 2014.
The mobile division likely was the top earner for the second straight quarter, raising the question of whether the South Korean company can sustain this strong pace in the face of competition from Apple Inc and cheaper Chinese rivals.
“At this point it appears unlikely that we’ll see stronger competing devices emerging” in the second half, IBK Asset Management fund manager Kim Hyun-soo said.
Apple’s new iPhones — likely to launch around September — would not offer any dramatic new features, Kim said.
Samsung will not disclose detailed results until late July.
The Thomson Reuters poll tipped the mobile division’s profit to have risen 54.5 percent from a year earlier to 4.3 trillion won, the highest since the second quarter of 2014.
S7 sales will likely ease in the second half, but Kim said Samsung should be able to keep quarterly earnings of between 7 trillion won and 8 trillion won for the rest of 2016.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
