Samsung’s Q2 2016 earnings post most significant profits in two years thanks to S7 sales

The S7 and S7 Edge were an act of refinement for Samsung, solving many of the S6’s most significant issues.

According to Samsung’s second quarter 2016 earnings, the S7 has been a resounding success for the South Korean company, with revenue up 50.94 trillion won ($45.2 billion), an increase of five percent over a year ago, and operating profit up 8.14 trillion won ($7.22 billion), an increase of 18 percent.

All in, Samsung mobile division accounted for over half of the company’s revenue and profit, with strong sales stemming form the well-received S7 and S7 edge pushing the company’s profits forward. Somewhat surprisingly, the larger and more expensive Edge made up more than half of the Galaxy S7’s total sales.

Samsung also mentioned in its earnings report that it expects its strong S7 sales to continue into the third quarter of 2016 with the launch of “a new large-screen flagship smartphone.” The Note 7 is expected to be announced on Tuesday and MobileSyrup will be on the ground covering the smartphone’s reveal.

[source]Samsung[/source]

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