About 340.4 million smartphones were shipped in the second quarter, said Strategy Analytics, which added that the market had been hit by saturation in major markets like China and political events such as Britain’s decision to exit the European Union.
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South Korea’s largest company, which makes electronics products ranging from chips to refrigerators, said in a statement that its second-quarter profit this year grew, led by expanded sales of smartphones such as the Galaxy S7 and S7 Edge. The increase in these two regions contributed to shipments totalling 32,1-million units, up 8.4% from a year ago. Samsung said the South Korean currency’s appreciation versus the USA dollar and the European single currency reduced profit by about 300 billion won.
Samsung Electronics has released its forecast-beating quarterly earnings report, which shows its operating profit in the April-to-June period jumped 18-percent from the year before to eight.one trillion won, or seven.one-seven billion USA dollars.
Apple released its quarterly results on Tuesday where the company posted quarterly revenue of $42.4 billion and quarterly net income of $7.8 billion.
Samsung said demand for smartphones and tablets will increase in the second half of this year.
Samsung’s Galaxy S7 and S7 Edge have boosted its profits to the highest levels the company’s seen in more than two years. “Additionally the company achieved growth in the second quarter by maintaining the profitability of mid- to low-end models, such as the Galaxy A- and J-series, and improving the product mix by raising the sales proportion of the Galaxy S7 edge to over 50%”. However, demand for semiconductors for mobile and SSD rose, and Samsung reported a growth when it comes to differentiated products. During the earnings meeting, Samsung’s mobile business representative said the company would launch the Galaxy C series entirely for Chinese consumers.
The component business declined this quarter, as overall earnings in this division dropped 28% year-on-year due to the fall in the average price of display panels and chips.
Samsung’s second quarter financial results have thrust the company into the limelight as it reported its most profitable three-month period since 2014.
According to numbers released in Q3 2015 by Google, there are more than 1.4 billion active Android users worldwide.
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The firm also said in separate filings it would buy back and cancel 1.79 trillion won worth of shares in the final installment of its 11.3 trillion won program, and declared an interim dividend of 1,000 won per common share.
