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Samsung's Q2 operating profit projection points at record high profits

By
Jed
 - 
Jun 13, 2017

Samsung Electronics holds the honour of being the highest selling smartphone brand globally for some years now. Apart from the smartphone division, Samsung's products have seen an increase in their sales spurred by innovation and a robust marketing strategy. Samsung's Q1 2017 earning is projected to be in the region of 9.9 trillion Won and yet, the tech giant is unrelenting in its efforts. It has now been disclosed by local financial experts that Samsung's operating profits in the second quarter of this year is expected to reach a record high, hitting as high as 12 trillion won (US$10.6 billion) on the minimum and up to 13 trillion won on the maximum.

The reports are unanimous in their forecast of a strong performance by the global leader in the smartphone and chip manufacturing industry. The 9.9 trillion won tally for Q1 2017 which is the second highest figure for a three-month period. The highest figure Samsung ever recorded in a three-month period was back in the third quarter of 2013 when the tech giant posted what remains its largest operating profit ever totaling 10.16 trillion won.

Estimates compiled as of last week showed there were predictions by analysts that Samsung sales could reach 58.2 trillion won, with operating profits forecast at 12.99 trillion won in the three-month period ending in June, market research firm FN Guide reports. If the estimates are realised, they'll represent a 14.3 percent increase in sales and 59.5 percent rise in the company's profit year-on-year when compared to the same period last year. Another South Korean analyst with eBest Investment & Securities, Eo Kyu-jin also posited that a figure higher than 14 trillion won is even possible

Samsung's profit this year is being helped by a rise in the prices of semiconductors and increasing demand for organic light-emitting diode screens. The strong posting of the company will also be helped by the successful performance so far recorded by its 2017 Galaxy S8 and S8+ flagship. The company is also on the verge of toppling Intel as the world's largest chipmaker, a position Intel holds since 1991. The flagship Snapdragon 835 chip was manufactured by Samsung for Qualcomm and demand is presently higher than the number of available stock.

 

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