Korean giant Samsung is expecting biggest operating profit ever in the second quarter, thanks to continued global demand for semiconductors and the rising popularity of its Galaxy S8 flagship phone.
Company stated on Thursday that it expects to record a 72 percent increase in its second-quarter operating profit. Operating profit for the three-month period ending June 30 will be 14 trillion won ($12.11 billion), the electronics giant estimated in a regulatory filing. Revenue likely came in at 60 trillion won ($52 billion), an 18 percent rise from a year earlier. This makes company’s profit larger than Apple It would be the first time Samsung’s profit would be higher than Apple’s in the same financial period.
Samsung also makes organic light-emitting diode (OLED) panels, which offer brighter displays and better power efficiency over liquid crystal displays which are currently in use in some smartphones.
Earlier this year, Apple reportedly ordered 70 million OLED panels from Samsung for its upcoming anniversary edition iPhone 8. Increased price rises in OLED panels as well as increased demand from the likes of Apple, could help Samsung see record high earnings in the display division of the business,
After the not 7 disaster, Samsung’s overall financial is looking just fine due to rising demand for chips for smartphones and servers. The company is also expected to unseat Intel as the global semiconductor market-share leader. Earlier this week, Samsung announced plans to invest $18 billion in South Korea in its chip business, to boost its lead in the market.