Samsung expected to post higher profit than Apple for the first time

Posted July 09, 2017

The South Korean electronics manufacturer Samsung Electronics Co.in the second quarter of 2017 increased operating profit by 72% compared to the same period previous year, to a record high of 14.1 trillion won ($12.1 billion), according to preliminary calculations of the company. Samsung indicates they expect 14 Trillion KRW ($12 Billion USD) in profit and 60 Trillion KRW ($52 Billion USD) in sales. But traders said that share markets had already priced in expectations for robust profit-growth.

Net income and detailed earnings of each business unit will be disclosed later this month after external audits and the board of governor's approval.

Earnings were also bolstered by a strong reception for Samsung's latest Galaxy S8 phone, and by the company's display division, which produces the organic light-emitting diodes, or OLEDs, which are used in increasing numbers of displays. Both set new quarterly records.

Reuters reported the average forecast for the smartphone and chip-maker's second-quarter profit among analysts was 13.1 trillion won.

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Mr Kumar added, "The JD (U ) is not a party which depends on others and my party will not compromise under any circumstances". Urging a more active opposition, Nitish pointed out that the opposition lacks an agenda driven approach.

The factory in Pyeongtaek, 70 kilometres (44 miles) south of Seoul, is the world's biggest and has recently started production after Samsung Electronics spent 15.6 trillion won over the past two years to build it. Analysts Mehdi Hosseini, David Ryzhik and Bill Grinstead have a Neutral rating on the stock and a price target of 2,550,000 won ($2,209), 6.5% above the current price near 2,393,000 won. Samsung Galaxy S8 lacked dual cameras, and now nearly every other manufacturer is putting dual lenses at the back because two is better than one.

Samsung Electronics likely edged past Apple to become the world's most profitable technology company last quarter.

Meanwhile, Samsung's de facto leader, Lee Jae-yong, is standing trial over his alleged role in a bribery scandal that has roiled South Korea. Mr.

His father Lee Kun-hee also has shown no signs of recovery since being hospitalized in May 2014 after suffering a heart attack. Find us on Facebook too!