Strong sales of the Galaxy S7 and S7 edge have led to Samsung posting an operating profit of $7.22 billion (8.14 trillion won) in Q2 2016, up 18% from the same period a year ago. Overall revenue was $45.1 billion (50.94 trillion won), a 5% increase from Q2 2015.
The handset business accounted for half of Samsung’s bottom line, with the division netting $3.83 billion (4.32 trillion won) in profit on a revenue of $23.5 billion (26.56 trillion won). Samsung noted that the larger and more expensive S7 edge model made up over half of the sales of its flagship series, with the Galaxy A series and J series also seeing an uptick in sales in the mid-range and low-end segments.
Looking ahead to the third quarter, Samsung says that the launch of a new large-screen flagship phone (the Galaxy Note 7, if you’re wondering) “will help to maintain solid sales of high-end smartphones led by the Galaxy S7 and S7 edge:”
Samsung will focus on increasing smartphone sales under strong seasonality with the launch of a new model, while expecting marketing expenses to increase QOQ due to seasonality.
Samsung Galaxy S7 and S7 edge
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