Thursday in CE: Samsung Quarterly Profit Might Beat Apple for First Time Ever
Who’da thunk that after all of the negative press they faced last year with exploding phones and washing machines, Samsung would see three straight quarters of significant operating profit increases? Well, they have. And their most recent quarter, which ended in June, saw the company’s net profit soar to 11.5 trillion South Korean won, or $9.9 billion—an 85 percent increase over the same quarter last year.
If Apple’s most recently reported projected net income pans out ($8.2 billion), this would be the first time ever that Samsung beats the iPhone maker in a single quarter.
However, that performance cannot be credited solely to the success of the company’s recently launched Galaxy S8 smartphone. Rather, according to the Wall Street Journal, it has to do with the success of its components business. Roughly 70 percent of Samsung’s bottom line is comprised of sales of technology components like semiconductors and display panels to competitors—including Apple.