Samsung posts record Q2 profit

Editorial Team
Editorial Team
Samsung posts record Q2 profit

South Korea’s Samsung Electronics, the world’s largest technology firm by revenue, has posted another record quarterly net profit.

The results however disappointed investors who had expected an operating profit of 10 trillion won.

Samsung said its April to June net profit jumped nearly 50 percent on last year to 7.77 trillion won, with growth driven by its flagship Galaxy S and higher chip prices.

Q2 operating profit was up 47.5 percent to 9.53 trillion won as sales grew 20.7 percent on-year to 57.46 trillion won.

The figures were in line with the firm’s forecast at the start of the month.

Samsung is the world’s largest smartphone maker. In the January to March quarter, it sold more smartphones than the next four vendors combined and one in every three smartphones sold in the period was made by Samsung, according to market researcher IDC.

Samsung’s record earnings come after U.S. giant Apple unveiled its fiscal third-quarter results, which showed net profits fell by 22 percent year-on-year

Image: © Getty

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The Editorial team at APAC Outlook Magazine is a team of professional in-house editors led by Jack Salter, Head of Editorial at Outlook Publishing.