Samsung posts record Q2 2017 profit of 10.8 billion Euros
Apparently, no amount of exploding smartphones can bring down the giant that is Samsung. For the second quarter of this year, the company has reported its highest profit yet at 14.07 trillion Won (KRW) or approximately 10.79 billion Euros to represent a marked YoY increase of 72.8 percent. Revenue has jumped from 50.94 trillion KRW in Q2 2016 to 61.00 trillion or approximately 46.79 billion Euros.
Samsung's smartphone arm (Samsung Mobile) has also recorded record numbers for the quarter. According to the earnings call, sales of the Galaxy S8 have "increased significantly" while budget and mainstream models have actually declined. Profits for the upcoming third quarter are expected to dip due to marketing costs surrounding the launch of the upcoming Note.
Finally, Samsung's semiconductor arm has now become the largest and most profitable in the world as predicted by analysts earlier in the year. Intel had held the top spot for over two decades, but Samsung's diverse portfolio of DRAM, SSDs, and SoCs are now finally outperforming Intel CPUs in terms of revenue.
This year's Samsung Unpacked event is scheduled for August 23rd in New York City where the company is anticipated to expand its roster of Galaxy smartphones for the North American audience. The launch of a potentially new Galaxy flagship may coincide with the inevitable launch of the next Apple iPhone.
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