Samsung Electronics Co Ltd, which is set to disclose its estimates for second-quarter earnings Thursday, is likely to issue guidance for its best quarterly profit in the last two years. Two of the company’s flagship devices that are expected to boost Samsung’s profit are the recently released Galaxy S7 and Galaxy S7 Edge smartphones.

According to a Thomson Reuters survey of 16 analysts, the South Korean tech giant is expected to report operating profit of 7.8 trillion won ($6.8 billion) in the April-June period. If turns out to be accurate, it will be the highest since an 8.5 trillion won ($7.3 billion) profit in the first quarter of 2014. The survey also suggested that mobile division could be responsible for a 4.3 trillion won profit ($3.7 billion), or 54 percent of Samsung’s second quarter profit.

“Galaxy S7 sales are better than expected in the first half, and the semiconductor business is also outperforming rivals,” Reuters quoted KTB Asset Management’s Lee Jin-woo as saying, adding that the company would also report strong operating profit in both the third and fourth quarters of this year at between 7 trillion won ($6 billion) and 8 trillion won ($7 billion) in each… see more

source: ibtimes