Samsung’s latest quarterly report shows biggest profit in over 2 years
The Samsung Galaxy S7 is still kicking strong and pulling in wads of cash for Samsung. In the Korean manufacturer’s latest financial report, the company has made more profit in Q2 of this year than they have in any quarter in the last 2 years. It’s pretty amazing how popular the Galaxy S7 and Galaxy S7 Edge have been this year.
Profit wasn’t the only thing up. Revenue for Q2 was up to $45 billion, which is an increase of 5% year over year. Operating profit came in at $7.2 billion, which is up 18% year over year. How do we know all this success is from a couple of phones? Samsung’s mobile division accounted for more than half of the revenue and profits. Samsung said Galaxy S7 series continues to outsell the Samsung Galaxy S6, and the low-end Galaxy J series has played a big part as well.
One interesting note is that the Galaxy S7 Edge accounted for half of Galaxy S7 sales. That might not seem like a big deal, but considering the Edge model is bigger and more expensive, it shows that people really do like the Edge screen. This could be a big reason why the Samsung Galaxy Note 7 will have an Edge screen as well.