Samsung squeezed highest profit out of S7

Smartphone market is definitely shrinking, first time since 2007. But not for Samsung: the Koreans have managed to get $7 billions out of the business, which is 17% higher Y2Y, Engadget reports.

The Korean mogul has revealed that it’s expecting its second quarter operating profit to reach 8.1 trillion won ($7 billion), thanks to its smartphone business. That might be far from the 8.84 trillion won ($7.6 billion) operating profit it posted in January 2013, but it’s still around 17 percent higher than last year’s. It’s also the highest in two years since it notched a profit of 8.5 trillion won ($7.4 billion) back in the first quarter of 2014. The company expects its revenue to be up by three percent, from 48.5 trillion won ($42 billion) to 50 trillion ($43 billion), as well.

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.

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