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Samsung Q2 results up on growth in high-end smartphones
2016-07-28 08:18:00| Telecompaper Headlines
(Telecompaper) Samsung Electronics reported a strong increase in second-quarter results, led by the success of its high-end smartphones, and said it expects demand to improve further in the second half of the year. In line with its preliminary report, Samsung said sales rose 5 percent year-on-year to KRW 50.94 trillion, and operating profit was up to KRW 8.14 trillion from KRW 6.90 trillion a year ago. Net profit increased to KRW 5.85 trillion from KRW 5.75 trillion. Sales growth was strongest at its semiconductor division, up 6 percent to KRW 12.00 trillion, while mobile remained the largest division, up 2 percent to KRW 26.07 trillion. Consumer electronics sales also rose 3 percent, to KRW 11.55 trillion on demand for UHD and large-screen TVs, and the division showed a sharp improvement in operating profit, to KRW 1.03 trillion from KRW 0.21 trillion a year ago. Operating profit at the mobile division jumped to KRW 4.32 trillion from KRW 2.76 trillion a year ago, while profits from semiconductors were lower year-on-year.
Tags: results
growth
samsung
smartphones
Category:Telecommunications
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