AFP, Seoul :
Solid sales of its flagship smartphone and an aggressive cost-cutting drive saw Samsung Electronics on Thursday post a better-than-expected gain in net profit for the second quarter.
The giant South Korean conglomerate said its key mobile division enjoyed “substantial earnings improvement” in the April-June period led by expanded sales of its high-end Galaxy S7 and S7 Edge phones.
Industry trackers estimate 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 increasingly squeezed by competition both from Apple’s iPhone and by lower-end devices from Chinese rivals such as Huawei.
Samsung’s overall net profit for the second quarter stood at 5.85 trillion won ($5.2 billion), up 1.7 percent from the previous year and slightly above analyst estimates.
Solid sales of its flagship smartphone and an aggressive cost-cutting drive saw Samsung Electronics on Thursday post a better-than-expected gain in net profit for the second quarter.
The giant South Korean conglomerate said its key mobile division enjoyed “substantial earnings improvement” in the April-June period led by expanded sales of its high-end Galaxy S7 and S7 Edge phones.
Industry trackers estimate 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 increasingly squeezed by competition both from Apple’s iPhone and by lower-end devices from Chinese rivals such as Huawei.
Samsung’s overall net profit for the second quarter stood at 5.85 trillion won ($5.2 billion), up 1.7 percent from the previous year and slightly above analyst estimates.
