Samsung has announced its financial results for the second quarter of 2015 and the company has increased revenue in its mobile division due to the Galaxy S6 and Galaxy S6 Edge smartphones.
Samsung’s overall profits fell for the second quarter in a row, this time the profits were down by 8% on the same time last year, although their gross earnings increased.
Samsung Electronics announced financial results for the second quarter ended June 30, 2015. Samsung’s revenue for the quarter was KRW 48.54 trillion, a three percent increase quarter-on-quarter (QOQ), while the operating profit for the quarter was KRW 6.9 trillion, an increase of KRW 900 billion QOQ. In the company’s earnings guidance disclosed on July 7, 2015, Samsung estimated second quarter consolidated revenues would reach approximately KRW 48 trillion with consolidated operating profit of approximately KRW 6.9 trillion.
The overall QOQ improvement in earnings was largely due to strong sales in the Semiconductor Business, led by memory products and mobile application processors, as well as the Consumer Electronics (CE) Division which benefited from the launch of new TV models. Despite the launch of Galaxy S6, improvement to earnings was quite marginal due to low smartphone shipments and an increase in marketing expenses for new product launches.
You can find out more details about Samsung’s latest earnings release over at their website at the link below.
Source SamsungFiled Under: Top News