Hot on the heels of the release of its upcoming Galaxy S8 flagship, Samsung is announcing strong quarterly sales. The South Korean conglomerate expects an operating profit of $8.7 billion in the first three quarters of 2017 which will be its best since the last three years. It also marks an increase of 48-percent over the same quarter in 2016.
Semiconductor Business Behind Profits
The rising figures come as a result of Samsung’s booming semiconductor business, which is expected to yield record sales of $5.2 billion. Its mobile division is expected to lag behind at $1.8 billion, but that is acceptable after losses of $5.3 billion were incurred thanks to the Note 7 fiasco last year.
Samsung has recently started pre-orders for its remarkable Galaxy S8 and S8+flagships, which have been seeing record levels of pre-orders already.
Display Division Holds Strong
The company has also inked an OLED deal with Apple, which will see it supplying 70 million panels to Cupertino for its upcoming iPhone 8 flagship. The company’s display segment became its second-largest after the Note 7 release quarter, and that is expected to continue now as well. Samsung is known for making the best displays in the smartphone industry.
This holds true for the Galaxy S8 too as the phone was reported to have the best display on a smartphone ever.
Strong Investor Confidence
Samsung’s stock prices have risen by more than 15% this year already, having increased by 43% over the last year. The corruption scandal which plagued the company leader Lee Jae-yong earlier this year seems to have not deterred investor confidence at all.
We await the exact figures which are going to be released in Samsung’s quarterly report later this month. With all said and done, this may be Samsung’s strongest financial year ever.