In the third quarter, the South Korean company expects that the release of a new large-screen flagship smartphone will help maintain sales of high-end smartphone portfolio, led by the Galaxy S7 and S7 Edge.
The semiconductor division posted operating profits of 2.64 trillion won, a decline from last year's 3.87 trillion won but an increase from previous quarter's 2.33 trillion won.
Samsung late Wednesday said that its mobile unit accounted for more than half of its approximately $45.2 billion in revenue and its $7.22 billion in profit.
In addition, Samsung estimated that the stronger Korean won against major currencies in the second quarter negatively impacted operating profits by approximately KRW0.3 trillion, which affected mainly its component business earnings.
Apple undoubtedly was hurt by the fact that its principle cash cow, the iPhone, witnessed a 15 percent drop in shipments to 40.4 million units in the quarter, down from 47.5 million in the third quarter of 2015.
Mobile phone sales, including smartphones, totaled 90 million units in the second quarter, with tablet sales reaching 6 million.
Asdrubal Cabrera Injury: Updates on Mets SS's Knee and ReturnIn fact, a potentially wet field was one reason Mets manager Terry Collins held slugger Yoenis Cespedes out of the lineup. The timing of his injury was particularly bad for the scuffling Mets (54-50), who snapped a four-game skid.
Replace your password with your voiceVoice-recognition technology has been brought in for telephone and online banking as a replacement for passwords. Explaining the move, the bank said that each person's voice is "as unique as a fingerprint".
SAARC meet: Rajnath Singh to raise issue of Pakistan support to terrorMeanwhile, a regular meeting between Border Security Force (BSF) and Pakistan Rangers was held from July 25-28, 2016 in Lahore. Sheikh Abdullah years ago said: "It is not necessary that our state should become an appendage of either India or Pakistan".
In conjunction with the financials announcement Samsung also announced that it would buy back and cancel 1.79 trillion won ($1.58 billion) worth of shares in the final installment of its 11.3 trillion won ($10 billion) program.
It proves that Samsung is emerging as a victor from the challenges that it faced from growing popularity of Apple Inc.'s iPhones and the low-priced Chinese smartphones flooding the markets.
Profit from the smartphone business is expected to fall amid the projected fierce competition following the rollout of iPhone 7 scheduled for September.
Samsung's second quarter financial report of 2016show that the company has been able to surpass its projected profits thanks to the high sales of Galaxy 7.
Customers shop at a Samsung mobile store inside a shopping mall in New Delhi, April 5, 2016. However, this was relatively flat, up 0.3 percent from the same quarter a year ago when vendors shipped 342.4 million units. In addition, mid- to low-end smartphones also contributed to the improved profitability, but flagships clearly grew operating profit by 57% while operating margin increased to 16.3%, the highest it has been in two years.
Source: Samsung 2Q16 operating profits rise 18% on brisk smartphone sales
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