Samsung soars, sidestepping jailing of chief, Note 7 fiasco

GOOGL image

GOOGL image

However, the firm expects mobile earnings to dip in the third quarter as S8 sales trail off, mid- to low-tier models take up a larger share of total shipments, and marketing costs increase for the Galaxy Note 8, unveiled on August 23 in NY.

While Mr Lee and Ms Park battle allegations of bribery and other charges, Samsung is thriving thanks to tiny microchips called DRAM and NAND memory chips, which are needed to store and process data in servers and mobile devices. Lee, grandson of Samsung's founder, has served time in a South Korean prison this year. Reports claim that numerous leak sources have claimed that the Samsung Galaxy Note 8 will, indeed, have a massive size for a smartphone as it syncs with its new design. Its mobile business recovered some of its reputation dented by fire-prone Galaxy Note7 that led to largest-ever technology recall and eventual discontinuation of the phone. The consolidated operating profit for the second quarter surged 42 percent against the previous quarter and 73 percent against the year-ago period. The operating profit stood at KRW14.07 trillion ($12.6 billion), which is a staggering 72% increase year-over-year. Samsung is also set to outperform Apple Inc.in quarterly earnings for the first time in its history.

The PDF seen by Ausdroid suggests that (predictably) the Note 8 will land with all the major carrier networks, as well as Dodo, Woolworths and amaysim. Samsung is now likely to displace Intel as the leading manufacturer of memory chips and is on course for annual record profits.

The IT & Mobile Communications (IM) division of Samsung accounted for half the consolidated revenue - KRW30 trillion.

Samsung said robust sales of the Galaxy S8 and its bigger sibling S8+ were behind the significant quarterly earnings growth in the IM business. But the company owes its fortunes to its less visible but increasingly dominant position in the memory chips and screens from which smartphones are built.

The company did confirm that a Galaxy Note is going to be launched in Q3. This could put Samsung at an advantage in the near term. Apple has been tipped to use Samsung's OLED screen for its next iPhone.

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