Samsung Predicts Highest-Ever Quarterly Profit on Account of Strong Galaxy S8 Sales

Samsung Galaxy S7 edge - rear view

Thanks to the success of the Galaxy S8 and Galaxy S8+, high demand for its AMOLED panels and NAND chips, Samsung is expecting to record its highest-ever profit in Q2, 2017.

As per the earnings guidance issued by the Korean company today, it expects to make a profit of $12.1 billion (14 trillion won) on revenues of $52 billion (60 trillion won). That’s a whopping 72 percent increase in profit, with revenues going up by 18 percent on a yearly basis. Samsung also managed to beat analyst expectations who had pegged the company’s profit to be around 13.1 trillion won.

Samsung had previously recorded its highest profit of 10.16 trillion won in Q3, 2013. While Samsung’s earning guidance from today did not provide details on the earnings of its each division, its likely that its display, NAND storage, and smartphone business have played a huge role in its solid bottom line.

With demand for OLED panels increasing with every passing month and Samsung’s monopoly in the OLED panel market, the company’s OLED business has turned out to be a huge money spinner for it. Plus, the Galaxy S8 and Galaxy S8+ sales have also far surpassed the company’s expectations and the excellent performance of the mobile division has also likely played a huge role in helping Samsung record its best-ever quarterly profit.

[Via Samsung]