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July 29, 2016 12:00 am

Samsung Beat Apple In Smartphone Shipments, Profit Surges To 2-Year High

An anonymous reader writes: Earlier reports speculated this to be true, but now it's official: Samsung has beat Apple in smartphone shipments to lift the company to its most profitable quarter in over two years. The Hindu reports: "Riding on the strong sales of its Galaxy S7 and Galaxy S7 Edge smartphones, Samsung Electronics on Thursday declared 8.14 trillion won ($7billion) year on-year operating profit -- 18 percent in the second quarter results. Touted as bad news for Apple that saw a 15 percent decline in iPhone sales in its second quarter results announced this week, Samsung saw substantial earnings improvement led by sales of its flagship products such as Galaxy S7 and S7 edge. A streamlined mid-to low-end smartphone lineup also contributed to improved profitability for the company. According to Samsung, it shipped about 90 million handsets in the April-June period with smartphones making up more than 80 per cent of the total, the Korea Herald reported. Samsung's second-quarter smartphone shipments are estimated at about 72 million units, almost doubling Apple's iPhone shipments of 40.4 million units during the same period."

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