SAMSUNG HAS ANNOUNCED a second quarter profit of 11 trillion won (£6.8bn), up 89 per cent year-on-year.
As expected, this record quarterly profit can be largely credited to the firm's chip business, which saw a 40 per cent increase in revenues. The firm saw strong demand for high-density DRAMs and SSDs for servers in a low-supply environment during Q2, with Samsung noting that cloud computing and artificial intelligence are the main drivers of this increase.
Samsung's mobile business also performed well thanks to sales of the Galaxy S8 and S8+, which the firm claims "have outsold the Galaxy S7 series in almost all regions." However, profits from the division dropped slightly, which Samsung attributed to higher component costs, and sales of low to mid-range smartphones fell during the three month period.
During its earnings call on Wednesday, Samsung surprised approximately no one by revealing that a new Galaxy Note smartphone will be released in the next quarter.
The handset, expected to arrive as the Galaxy Note 8, will boast "enhanced performance and features, to maintain the strong sales momentum of its premium smartphones, together with the Galaxy S8 and S8+," according to Samsung.
Looking forward, Samsung says that "continued growth is expected thanks to stable supply of 10nm mobile processors and increased supply of OLED DDIs for flagship smartphones."
Those displays likely include not only its devices but also the rumoured iPhone 8, which is expected to the first Apple smartphone to pack an OLED display. According to reports, Apple has ordered 80 million flexible OLED displays from Samsung in preparation for the launch of its next iPhone.
However, despite the impending Galaxy Note 8 launch, Samsung expects earnings from its own mobile business to decline in the third quarter due to "increased marketing costs." µ
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