Samsung Stuns Investors with Record-breaking Profits

Published By : 31 Jul 2017 | Published By : QYRESEARCH

Samsung Electronics, the giant South Korean conglomerate, has stunned investors with the record-breaking profits, especially, since it is currently recovering from the extremely embarrassing recall fiasco and the humiliating arrest of its de facto chief with a tremendous speed. However, the tech giant is anticipated to face tougher challenges in the near future, with Chinese rivals aiming at its semiconductor business as concerns arise over its leadership.

Samsung is one of the top smartphone maker in the world. This large family-run chaebol dominate the economy in South Korea. The past week, the company took onlookers by surprise, when it reported US$12.6 bn for Q2 2017 – a jump of 73% from the past year – in operating profits, beating the forecasts. With such revenues, for the first time, it is expected to surpass its arch rival Apple, due for reporting its operating profits this week, which is estimated at nearly US$10.6 bn.

According to Samsung, the massive sales of its new smartphone, Galaxy S8 and the significantly high demand for its memory chips have been the main driving force behind the leap it took in the April-June quarter.  The company predicts the July-September quarter to be another blockbuster one. When the tech giant is battling out to recover from the humiliating recall of its flagship Galaxy Note 7 phones over battery explosions, which costed it a bomb and left to deal with a severely ruptured reputation, these developments promise a stable future.

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