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July 7, 2016 06:00 pm

Smartphones Lift Samsung To Best Profit In Over Two Years

Samsung said on Thursday that its second-quarter operating profit likely rose 17.4% from a year earlier. The figure marks the highest for Samsung in more than 2 years. The company adds that sales of Galaxy S7 flagship smartphone propelled its mobile earnings. Engadget reports: While Samsung won't be releasing its detailed earnings until the end of July, Reuters believes the top earner this quarter is none other than the mobile division, which also topped the last one. The news source says the division's profit could be up 54.5 percent from the same period last year. According to Yonhap News, Samsung shipped out around 15 million S7 and S7 edge units from April to June, with the latter beating out the basic S7 despite being more expensive.The company's mobile division, which once mostly had to compete with Apple's iPhone in the smartphone market, has been facing stiff competition from Chinese players such as Xiaomi and Huawei especially in the emerging market. But interestingly, some of these Chinese players have started to cut the big margin that their phones enjoyed in the recent months to make more profit.

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