Samsung's 2 quarter operating profit surged 18% to $7.17bn, in line with the company's expectations, meanwhile operating profit at its mobile division soared 27% year-on-year to 4.3tn won.
Samsung's Galaxy S7 and S7 Edge have led the company to its most profitable quarter in two years - not bad for a firm that cautioned 2016 could be a rocky one for the smartphone market.
Samsung's Q2 earnings report show that the company enjoyed its most profitable quarter in two years, building on the progress it made in the first quarter of the year. That 5 percent revenue increase was "pretty good", Dan Olds, principal analyst with Gabriel Consulting Group, told eWEEK.
So while Huawei claims to be on track to ship 140 million smartphones this year - a figure that would mark a 30 percent increase over last year - it may not be able to reach that goal if it can't score a partnership with major USA carrier. That is mainly driven by strong sales of its Galaxy S7 and Galaxy S7 Edge smartphone models. Samsung is still the largest smartphone maker in the world overall, as it also sells many lower-end phones.
Samsung believes that the boost in earnings is due to strong sales of its flagship smartphones, S7 and S7 edge.
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How could we tell with any confidence that the Galaxy S7 played a big part in Samsung's much improved margins in the past quarter? Apple, Samsung's main rival, is said to release its next innovative iPhone model, iPhone 7, in September 2016.
Earlier this week, Apple revealed net profit down to $7.8bn (£5.9bn) on sales also down to $42.36bn (£32.2bn), as iPhone sales dropped for the second consecutive quarter.
IDC suggests that Huawei's shipments are up 8.4% compared to this same quarter last year, while Samsung's shipments have gone up 5.5% compared to this same quarter last year.
A separate survey by Strategy Analytics had a similar estimate, with Samsung at 22.8 per cent to 11.9 per cent for Apple.
In fact, early launches of its products helped Samsung account high sales during the first quarter, and the latest results dismissed doubts it could endure the momentum during the second quarter, as consumers keep on snapping up new phones in the spring.
Source: Smartphone sales drive Samsung Q2 profit
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