Along with a number of other companies, Samsung has announced their most recent earnings report this week, revealing the financial results for Q2 2016.

In these results, the company revealed that they achieved a total of KRW 50.94 trillion for the quarter, which is up from KRW 2.40 trillion for the same period last year.

Samsung has said that this improvement is due to their strong performance in the set and component business, as well as their mobile division.

They explained more with the following:

Looking ahead to the second half of 2016, the company expects its solid performance to continue compared to the first half, mainly driven by earnings increase in the component business due to sales growth in high value-added products and stable demand and supply conditions. The set business is expected to continue its stable earnings while the IM Division expects marketing expenditure to increase.

In the third quarter, the company expects the component business to maintain its solid performance due to improved demand and supply conditions for memory chips and LCD panels and stable earnings for OLED and System LSI. For the set business, the company forecasts marketing expenditure for the IM business to increase mainly due to a new flagship product launch and fierce competition in the industry. Meanwhile, weak seasonality is likely to impact the CE business.

You can read more about the results at the source link below.

Source: Samsung

This article may include links to affilates, and if you click on one of these affilate links, we may recieve commission.