Samsung reports record quarterly profits

Company may be on track to unseat Intel as top chip firm

Samsung may be on course to hit its most lucrative quarter ever, predicting a record operating profit of over 9 billion.

The South Korean tech firm today reported its forecasts for Q2 2017, which included a consolidated operating profit of around 14 trillion Korean Won - easily the largest quarterly profit in the company's history. The figure represents a 2.6 billion jump from the last quarter, and a mammoth 72% increase on the same quarter last year.

Advertisement - Article continues below

The spike has largely been driven by the company's chip-making business, analysts say, rather than its more well-known smartphone division. Limited supply and soaring demand have combined to force industry prices higher, leaving Samsung in an enviable position.

Indeed, some analysts are even predicting that the company is on course to unseat tech titan Intel from the top spot in the semiconductor industry. "From the second quarter, Samsung will become number one in market share due to the recent increase in data centres and demand for solid-state drives," wrote Peter Lee, analyst for NH Investment & Securities analyst, in a note to clients.

Samsung is doubling down on its silicon success too, announcing earlier this week that it will be investing $18 billion in its chip manufacturing business. This includes expansion of its plants in South Korea and China.

Advertisement
Advertisement - Article continues below

The news indicated that the company appears to have put the embarrassing failures of last year - which included the mass recall of the original Galaxy Note 7 and the arrest of one of its top executives as part of a bribery scandal - behind it. The company has just relaunched the Note 7, and is gearing up for the launch of the Note 8.

Featured Resources

Top 5 challenges of migrating applications to the cloud

Explore how VMware Cloud on AWS helps to address common cloud migration challenges

Download now

3 reasons why now is the time to rethink your network

Changing requirements call for new solutions

Download now

All-flash buyer’s guide

Tips for evaluating Solid-State Arrays

Download now

Enabling enterprise machine and deep learning with intelligent storage

The power of AI can only be realised through efficient and performant delivery of data

Download now
Advertisement

Recommended

Visit/mobile/mobile-phones/354759/samsung-galaxy-z-flip-hands-on-review-samsung-flips-its-lid
Mobile Phones

Samsung Galaxy Z Flip hands-on review: Samsung flips its lid

12 Feb 2020
Visit/mobile/mobile-phones/354754/samsung-unveils-new-galaxy-z-flip
Mobile Phones

Samsung unveils new Galaxy Z Flip

11 Feb 2020
Visit/mobile/mobile-phones/354752/samsung-galaxy-s20-ultra-hands-on-review-room-to-zoom
Mobile Phones

Samsung Galaxy S20 Ultra hands-on review: Room to zoom?

11 Feb 2020
Visit/mobile/mobile-phones/354749/samsung-galaxy-s20-hands-on-review-another-slam-dunk
Mobile Phones

Samsung Galaxy S20 hands-on review: Another slam-dunk?

11 Feb 2020

Most Popular

Visit/software/video-conferencing/355138/zoom-beaming-ios-user-data-to-facebook-for-targeted-ads
video conferencing

Zoom beams iOS user data to Facebook for targeted ads

27 Mar 2020
Visit/infrastructure/server-storage/355118/hpe-warns-of-critical-bug-that-destroys-ssds-after-40000-hours
Server & storage

HPE warns of 'critical' bug that destroys SSDs after 40,000 hours

26 Mar 2020
Visit/software/355113/companies-offering-free-software-to-fight-covid-19
Software

These are the companies offering free software during the coronavirus crisis

25 Mar 2020
Visit/mobile/mobile-phones/355088/apple-lifts-iphone-purchase-restrictions
Mobile Phones

Apple lifts iPhone purchase restrictions

23 Mar 2020