Samsung’s earnings in the second quarter of this year are expected to be helped by strong sales of the Galaxy S7 flagship as well as increased demand for the company’s semiconductors. Market analysts are of the view that Samsung is going to report second quarter profits above expectations due to lower smartphone inventory, improvements to its flash memory chip business as well as the stellar performance of the Galaxy S7 and the Galaxy S7 edge.
Korean brokerage Shinhan Investment expects Samsung to bring in operating profits of 7 trillion won. If it does breach this level it will be the first time in nine months, Samsung last reported 7.39 trillion won in the third quarter of 2015. Samsung’s mobile business is expected to post a 12.4 percent year-over-year increase in operating profits primarily helped by the flagship duo. Most brokerages in Korea appear to agree that Samsung is going to have a solid second quarter, raising their guidance for profits from 5 trillion won to as much as 7.19 trillion won.
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