Samsung's profit may top Apple's for the first time ever

Sales of the S8 beat the S7 last year but higher component costs weighed slightly on Samsung's mobile profits

Sales of the S8 beat the S7 last year but higher component costs weighed slightly on Samsung's mobile profits

Operating profit was 14.07 trillion won (12.64 billion US dollars) in the April-June quarter, up 72.72 percent from a year earlier, the regulatory filing showed on Thursday.

Overall sales rose almost 20 percent to a record 61 trillion won ($54.80 billion) during the same period thanks to strong demand for memory chips, mobile devices and display panels.

LG's earnings will likely fall in the second half of 2017 compared with the first as its appliances business enters a traditional off-season, analysts said.

Intel, which reports its quarterly earnings later Thursday, is expected to report $14.4 billion in quarterly revenue.

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Since 2002, Samsung Electronics has been the largest supplier of memory chips, called DRAMs and NANDs.

Samsung also plans to expand its NAND chip plant in the Chinese city of Xian to meet booming demand for the chips used in high-end storage products, it said.

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 previous year because they were prone to catch fire.

Beating analysts' estimates, Samsung Electronics posted its biggest-ever quarter of profits despite a downtrodden year rigged with troubles with the now defunct Samsung Note 7.

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Samsung will see "a meaningful revenue increase" thanks to the supply of display panels "to a major smartphone customer" in the next three months, Daiwa Capital Markets analyst SK Kim wrote in an investors note.

Apple, which is due to report its financial results on Tuesday, is forecast to have booked 8.2 billion dollars in net profit during the three-month period, according to FactSet, during a typically slow season for the company.

Conversely, the IT and mobile communications unit, led by smartphone production, saw its operating profit decrease 6% to a little over 4 trillion won. "As these [cloud infrastructure] players grow, they will only need more chips and that helps Samsung".

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