Samsung reports 80 per cent rise in second-quarter operating profit
South Korean electronics giant, Samsung Electronics has said that its estimated second-quarter operating profit has risen 80 per cent compared to the same period in the previous year.
The company recorded the impressive growth in operating was driven by strong sales of Galaxy smartphone. The operating profit of the company April to June is estimated to be between 6.5 trillion won and 6.9 trillion won or $5.7 billion and $6.1 billion.
The company also said that its revenue is expected to be around 46 trillion won and 48 trillion won, recording a growth of 19 per cent compared to the same period in the earlier year. The company did not release more information about segment wise contribution to the profits.
The flagship Galaxy smartphones helped the company increase its lead over rivals in the samrtphone market. The company is finding it hard to cater to the stronger-than-expected demand for its latest S III model.
Analysts believe that the company’s mobile communications division generated 4.4 trillion won in second-quarter profit, accounting for about 65 per cent of its operating profit. Samsung’s guidance of its second-quarter revenue was around 50 trillion won.