Samsung Electronics' record earnings see it overtake Apple

Visitors test Samsung Electronics Co.'s Galaxy S8 smartphones at a company shop in Seoul

Samsung said its operating profit after certain costs such as stock compensation jumped 73 percent from a year ago, to 14.1 trillion won, with sales rising by 20 percent to 61 trillion won.

Samsung C&T on Wednesday said in its regulatory filing that it posted 255 billion won ($227.5 million) in operating profit in the second quarter ended June, up 44 percent from the same period previous year.

The home entertainment unit's operating profit improved 8.1 percent during the same period to 343 billion won while the revenue dropped by 3.8 percent.

Buoyed by voracious requests for DRAM and NAND memory chips for everything - from servers to IoT connected devices - Samsung's semiconductor division alone was responsible for the whopping $7.2 billion in operating income on sales of $15.8 billion. All of Samsung's products performed exceptionally well with its smartphone and memory divisions leading the charge.

The firm's mobile division reported a 132 billion won loss, its ninth consecutive quarterly loss, hit by lackluster sales of its flagship G6 smartphone.

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Mobile devices and data are the keys to understanding Samsung's ascent as the new industry leader, even as its de facto chief is jailed, battling corruption charges, and it recovers from a fiasco over Galaxy Note 7 smartphones that had to be axed a year ago because they were prone to catch fire.

Looking ahead, Samsung said its third quarter profit may decline as its upcoming launch of the latest iteration of the Galaxy Note series would boost marketing expenses.

Samsung Electronics said it expected the memory chip boom to continue in the current quarter.

The company released its financials for Q2 today and the company earned $54.8 billion total with $12.6 billion in profit. Samsung Electronics' semiconductor business is expected to report 71.9 trillion won ($62.6 billion) in full-year revenues.

Earlier this month, Samsung announced plans to invest $18 billion to expand and upgrade its chip plants in Korea, with the aim of extending its lead in the market.

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