Samsung Q2 2016 financial results are up once again YoY

Samsung can claim yet another record quarter as of Q2 2016. The South Korean giant has made public its quarterly results to reveal a YoY sales increase from 48.54 trillion Won to 50.94 trillion Won (40.9 billion Euros). This puts Samsung ahead of Apple in terms of sales who recently reported revenue totaling 42.36 billion USD (38.15 billion Euros). Of course, Samsung is a wider-reaching company in that it also sells home appliances, TVs, display panels, and other electronics that Apple does not offer.

The company reported an operating profit of 8.14 trillion Won compared to 6.90 trillion Won in Q2 2015. Quarterly net profits are up ever so slightly by 1.7 percent YoY from 5.75 trillion Won to 5.85 trillion Won (4.70 billion Euros).

Aside from Samsung's Semiconductor and Device Solutions (DS) units, its Consumer Electronics (CE) and Mobile Communications (IM) arms performed very well. Smartphone profits in particular are now at 3.46 billion Euros with Samsung specifically citing the Galaxy S7 in its earnings slides.

The Galaxy S7 has been a success story for the manufacturer with sales surpassing that of its Galaxy S6 predecessor and even the iPhone 6s in North America.

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