Strong Galaxy S7 sales push Samsung to biggest profits in over two years

Samsung Electronics has published its full second-quarter earnings, confirming earlier guidance that indicated the company’s strongest profits in over two years. Revenue was 50.94 trillion won ($45.2 billion), up 5 percent on a year ago, while operating profit was 8.14 trillion won ($7.22 billion), up 18 percent.

Samsung’s mobile division accounted for over half of that revenue and profit, with the company pointing to strong sales of its well-received flagship Galaxy S7 and S7 Edge phones that continued from the previous quarter. The larger, more expensive Edge phone made up over half of Galaxy S7 sales, improving profitability for the lineup, while Samsung also benefited from a streamlined mid-to-low-end product range.

Samsung says it expects to maintain solid sales through the third quarter with the launch of “a new large-screen flagship smartphone;” the Galaxy Note 7 will be announced on Tuesday.