Samsung quarterly operating profit renews all-time high
27 July 2017, 06:22 | Hattie Nash
Samsung posts best quarterly profit amid chip boom
Semiconductors are once again the profit engine for Samsung Electronics, which announced a second quarter operating profit of 14 trillion won on Thursday on revenue of 61 trillion, representing a 6 percent year-on-year increase in profit, and a 20 percent boost in revenue from the same time last year.
Samsung C&T on Wednesday said in its regulatory filing that it posted 255 billion won ($227.5 million) in operating profit in the second quarter ended June, up 44 percent from the same period past year.
Samsung is also upbeat about its business in the second half of the year.
Since 2002, Samsung Electronics has been the largest supplier of memory chips, called DRAMs and NANDs.
The firm's mobile division reported a 132 billion won loss, its ninth consecutive quarterly loss, hit by lackluster sales of its flagship G6 smartphone.
However, Samsung said the outlook for its semiconductor business still looks rosy, as it expects companies to continue adding to their server memory capacity.
Love Island comes to an end
An average of 2.43 million viewers tuned in live to see Kem and Amber crowned the winning couple - a huge figure for the network. After numerous dumpings and re-couplings, the show ended with four couples making the final.
Man City agree fee in excess of £51m to sign Benjamin Mendy
Mendy would become Manchester City's fourth major signing of the summer and take their spending to more than £175 million. While at Monaco, Mendy played 34 times for the club and helped them to win their first Ligue 1 title in 17 years.
"The S8 has indeed helped get Samsung back onto its feet, hopefully putting the Note7 debacle behind it", Bryan Ma, a technology industry analyst at IDC, said before the announcement.
Mobile devices and data are the keys to understanding Samsung's ascent as the new industry leader, even as its de facto chief is jailed, battling corruption charges, and it recovers from a fiasco over Galaxy Note 7 smartphones that had to be axed past year because they were prone to catch fire.
The numbers appear to be in line with a report on expected profit they released on July 7.
Almost 60% of Samsung's quarterly income was generated by its semiconductor division, which booked eight trillion won in operating income on sales of 17.6 trillion won. Apple is forecast to report $8.2 billion in net profits next Tuesday, according to data by FactSet.
The sales revenue of the company's mobile division is also up 13 per cent to 30 trillion won following the good public reception of the latest Galaxy S8 and S8plus high-end models, but its operating profit was reduced due to an increase in component costs.
Swiss chainsaw attack was not a terrorist hit
The injured included one employee of the insurance company who suffered serious wounds, AFP reported, citing Schaffhausen police . Officers warned that Wrousis may be armed and asked anyone who sees him to contact police immediately, and to keep away from him.
Monaco's Mendy moves to City
The 23-year-old signed a six-year contract with the Citizens to become one of the many signings to join Pep Guardiola's squad. Aleksandar Kolarov was sold to Roma on Saturday, following Pablo Zabaleta, Gael Clichy and Bacary Sagna in leaving.
Stranger Things Season 2 Trailer is Here!
Speaking of spoilers, the young cast struggled throughout the first season to keep everything under wraps. But, as was true of all the day's trailers, the best moment came right at the end.
Antonio Candreva: 'Chelsea interest is nice'
After a few minutes of medical attention on the ground, the Spanish global walked off the pitch and did not return to the game. Speaking at a news conference in China on Friday, Conte said: "It is very important the choice".