Samsung Electronics Result 28/07/2016

Samsung Electronics reported Q2 2016 net profit of 5.8 trillion won ($5.2 billion), up 2% YoY from 5.7 trillion won ($5.1 billion). Turnover was 50.9 trillion won ($45.3 billion), up 5% YoY from 48.5 trillion won ($43 billion). Earnings were reported to be the highest in two years on account of smartphone sales, while increased OLED capacity utilization and stabilized LCD panel yields helped the display segment. Samsung said that it expects weak TV sales because of poor demand in Europe, but hopes to boost sales of its SUHD higher end sets and develop promotions with local channel partners.