KOREAN ELECTRONICS GIANT Samsung reported a 50 percent jump in second quarter profits to $7bn thanks to smartphone and semiconductor sales.
Samsung's Galaxy range of smartphones has all but conquered the Android mobile market, but its semiconductor business is also contributing strongly to the firm's bottom line. Samsung reported revenues of $51bn in the second quarter, an increase of 20 percent, while profits rose 50 percent to $7bn.
Samsung said that mobile sales, the firm's single largest revenue source, grew nine percent to $31bn. However the firm's display and memory business saw the biggest sales increases, with the company seeing 11 percent growth in memory sales and a 15 percent increase in display sales.
Despite the firm's semiconductor business going from strength to strength, Samsung's smartphone business generates the most profit, racking up a $5.6bn profit in the second quarter. That said, a healthy semiconductor business, including display panels, is vital to ensuring that should it fall behind one of its competitors when it comes to complete handsets it can fall back on its component business to shore up its income statement.
Samsung, like every other technology company, cited low demand for PCs, but said that demand for memory and solid-state disk (SSD) drives was still growing, with DRAM and NAND flash chip shipments increasing. The firm also said that demand for television panels increased, especially in China, which should be good news for the wider television industry that has been battling with falling demand for the past few years.
Samsung forecast steady growth in demand for DRAM and NAND chips along with tablet devices, however it predicted that smartphone demand will see "balanced growth" in the near term. µ
Manual camera controls, user accounts, Apple Pay improvements and more
How does Canonical's Ubuntu OS fare on mobile?
The top 10 stories from the past seven days
SoC will debut in Google Daydream-compatible devices