Brand Updates & Reviews

Samsung posts 1.7% rise in second quarter net profit

Strong sales of its flagship smartphone and an operative cost-cutting drive saw Samsung Electronics post a 1.7% year-on-year gain to $5.2 billion in second quarter net profit on Thursday.

The giant South Korean corporation said its key mobile division enjoyed “substantial earnings improvement” led by extended sales of its high-end Galaxy S7 and S7 Edge phones.

Industry trackers calculated that the world’s largest smartphone maker has sold about 26 million units of the S7 since it hit stores in March ahead of launches by competitors, including arch-rival Apple.

The mobile division accounts for the lion’s share of Samsung’s business, but it has been further squeezed by opposing both from Apple’s iPhone and by lower-end devices from Chinese rivals such as Huawei.

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