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28 July 2017, 11:16 | Dan Bryan
Samsung's growth this quarter was largely down to the stunning success of its semiconductor business, which is experiencing an unprecedented boom on the back of strong demand for server memory chips to store, analyze and process data in data centers.
Operating profit jumped 73% over a year earlier to 14.1 trillion won while sales rose 20% to 61 trillion won, in line with its earlier guidance.
Analysts predicted Samsung would post another record-breaking profit number in the third quarter. The consolidated operating profit for the second quarter surged 42 percent against the previous quarter and 73 percent against the year-ago period.
The world's biggest maker of memory chips, smartphones and TVs is set to smash its annual profit record after better-than-forecast performance in its mobile business lifted April-June profit slightly above its early-July guidance, analysts said.
The IT & Mobile Communications (IM) division of Samsung accounted for half the consolidated revenue - KRW30 trillion. Kim Ji-yeon, Arirang News.
With demand for Samsung's memory chips forecast to continue until next year, analyst Roh said: "Samsung is expected to post another record profit in the third quarter at around 15 trillion won".
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The mobile business reported operating profit of 4.1 trillion won. Consumers also expect their handsets to be packed with higher memory storage, which increases memory demand. However, it has now fallen out of the top five, and Samsung saw sales decline in the second quarter, according to Canalys.
Samsung said it has 54 trillion won in net cash, an 11 trillion won decrease from the same time past year.
It would certainly be a welcome move - Samsung Pay works at most offline retailers - but it's hard to see other manufacturers integrating Samsung's proprietary tech in their devices.
Other big spends on the horizon include ramping up production of 64-layer V-NAND at the company's Pyeongtaek fab. In his absence the company has released the S8 to glowing reviews, helping it recover from the Note 7 recall, while also boosting investment in chips to meet demand from rivals including Apple Inc.
It is supposed that a 3,300mAh battery will fuel the handset and the Note 8 is anticipated to be preloaded with Android 7.1.1 Nougat, although many expected it to come with the Android O.
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