Samsung has posted a strong quarterly result in Q2 this year primarily because of the stellar performance of its mobile business that was greatly aided by the Galaxy S7 and the Galaxy S7 edge. The company itself expects that momentum to carry through into the third quarter and analysts are now forecasting that due to the demand for its smartphones, Samsung Electronics may post over $27 billion or 30 trillion won in operating profit for the year 2016.
If this happens, it would be the second time that Samsung’s operating profit tops 30 trillion won. It first happened back in 2013 when Samsung’s operating profit touched 36.785 trillion won. Market expectations of the year-end operating profit at the start of 2016 were at 23.26 trillion won and they inched up to 27.88 trillion won by the end of June. The recent quarterly results beat analyst expectations leading them to perform an upward revision in their estimates and suggest that Samsung could bring in as much as 30.58 trillion won in operating profit by the end of this year. Strong sales of the Galaxy S7 are expected to play a major part in this and the bottom line may also be helped by the recently announced Galaxy Note 7. Demand for the new phablet is so high that Samsung is having to delay the Galaxy Note 7 in several markets just to be able to meet demand.
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