Samsung has announced its quarterly report for its Q2 2017 Fiscal Quarter. Despite high spending on components, the Korean technology company reported a record profit.
Despite all the adversities, Samsung reported a record profit in the second quarter of 2017. The company had to deal with the fact that last year one of its flagship smartphones, the Galaxy Note 7, had to be called back due to exploding batteries. Also, Jay Y. Lee, Vice-Chairman of the Supervisory Board, had to be responsible for bribery. Despite this, thanks to the real sales figures of the new Android smartphone Galaxy S8 and its plus model, the Group was able to make higher profits. The bottom line is 11.05 trillion Korean won, equivalent to 8.5 billion euros.
Samsung’s sales in the second fiscal quarter amounted to approximately 46.8 billion euros. This represents an increase of around 20 percent compared to the same quarter a year earlier. The “Mobile Division” contributed 29 percent to total Group sales. With the sale of displays, 12 percent of group sales were generated and the chip business generated 57 percent.
If the costs for components were not so high, Samsung’s earnings could have been even higher.