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Published on July 7th, 2017 | by The GC Team

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Samsung reports Q2 profits up 72%

Samsung Electronics says operating profit for the three months to June 2017 was a “record” 14 trillion Won (£9.3 billion), 72% higher than the same period last year, largely due to high global demand for memory chips. Samsung is the world’s second largest manufacturer of memory chips after Intel.

Sales were 18% up, with the Galaxy S8 smartphone performing well, and indicate, say analysts, that the company has recovered from the costly recall of the Galaxy Note 7, which was withdrawn because of a high incidence of battery fires.

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