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Samsung set to pip Apple to the post in Q2 financial results

28 July 2017

Operating profit of Samsung Electronics grew by 73% compared to the same period last year, to a record of 14.07 trillion won from 8.14 trillion won a year earlier.

"Samsung launches phones twice a year, but its mainstream flagship Galaxy S line comes out in the spring, so by the fourth quarter the launch buzz has diminished." said Avi Greengart, research director at GlobalData.

For Samsung Galaxy S6 Edge+ users, the update is arriving carrying software version G928GUBS3CQG1 and for the Galaxy Note Edge, the software update has version number N9150ZCS1CQG1, an indicator that this is meant for the Chinese variant of the phone.

"Even though S8 was released later than expected, its sales exceeded the S7 in the majority of regions for the same span", said Lee Kyeong-tae, vice president of mobile communications business, in a conference call Thursday morning. "So Samsung's massive profits this past quarter may already reflect some of the heightened competitive environment it expects to see in the fall".

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One distinct advantage the company has in the mobile sector is its dominance in the smartphone OLED screen market, in which it has a 90% market share. As recently as 2014, Samsung sold the most smartphones in China.

When asked about the Galaxy Note8, he emphasized the phablet's unique characteristics.

However, until the Galaxy Note 8 Emperor Edition is officially announced, Samsung fans could still hope that the special smartphone will arrive in the United States.

Apple will release its earnings for the same period next week.

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Samsung also surpassed Apple this quarter in terms of overall profitability, but Apple's profits from smartphone sales far exceed Samsung's.

Samsung, the world's largest maker of memory chips and smartphones, probably surpassed Intel's semiconductor revenue during the last quarter and outstripped Apple in quarterly earnings for the first time, if analysts' forecasts turn out to be correct.

Meanwhile, its board of directors on Thursday approved the third phase of the 9.3 trillion won. Intel reported $14.8 billion in sales for the first quarter, and analysts are not expecting the chip giant to surpass that number when it reports its second quarter results, scheduled for Thursday after the USA markets close.

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