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Samsung expects to post higher profits than Apple for the first time ever

According to earnings guidance issued today, Samsung seems unaffected by the whole Galaxy Note7 fiasco as it expects to post a record profit of 14 trillion won ($12.1 billion) on 60 trillion won ($52 billion) in revenue for the second quarter. That represents a 72 percent year-over-year jump, continuing the record-breaking streak from Q1. We will hear more details about the latest quarter when the full earnings report comes later this month.

The main driving factor behind Samsung's increased profits is likely its fast-growing display and chip manufacturing divisions, and the company may also have received a boost from the well-received Galaxy S8. Samsung is also rumored to be supplying OLED screens for Apple’s next iPhone, and is on track to launch the Galaxy Note8 later this year.

According to some analysts, Samsung's operating profits for the quarter could surpass those of Apple for the first time ever. Apple is expected to report revenue of around $44.9 billion and a profit of $10.49 billion for the quarter.

Source: Samsung via CNBC

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