Smoking hot Galaxy S8 and storage sales fire Samsung to flaming brilliant quarter

Operating profit up 73 per cent to record US$12.68bn as smartmobe buyers go large

Samsung Electronics has reported a record second quarter in which it hauled US$54.8bn through the door, $12.86bn of that profit.

The company found good news to share across most of its business units. The company’s memory business revelled in strong demand for RAM and solid state disks destined for servers.

That same strong demand for components bit its mobile business a little, by forcing it to endure higher component costs. But the company still reported a big bump in mobile revenue thanks to strong sales of the newly-launched Galaxy S8 and S8+. The company says the new models “have outsold the Galaxy S7 series in almost all regions.” Sales split evenly between the S8 and S8+, suggesting buyers have an appetite for larger phones and have forgiven Samsung its combustible Galaxy Note 7.

Display sales rose, in part because of demand from Samsung for Samsung OLEDs. TV sales also ticked up a little.

It’s not all good news as the company says smartphone sales by volume are down, with punters reluctant to acquire mid-range phones. A J-series refresh is planned to sort that out. Also on the agenda is a marketing push for the new Galaxy Note, one reason the company is warning its next quarter won’t be as pleasing to investors.

Other big spends on the horizon include ramping up production of 64-layer V-NAND at the company’s Pyeongtaek fab. There's also spending on new OLED factories to come, again with expected impact in Q3. ®

Samsung Q2 2017 results

Samsung Q2 2017 results by business unit. Click here to embiggen

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