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Samsung reports highest profit for 2 years thanks to strong Galaxy S7 sales

Samsung reports highest profit for 2 years thanks to strong Galaxy S7 sales

July 28, 2016

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Earlier this month Samsung forecast its most profitable quarter for two years, and today it delivered on that promise with its Q2 2016 results.

The Korean tech giant reported a 8.14 trillion won ($7.22 billion) operating profit on revenue of 50.94 trillion won ($45.2 billion). That profit figure is up 18 percent year-on-year, while the quarter’s revenue represented a five percent annual increase.

The company’s mobile division accounted for more than half of the firm’s revenue and profits.

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