Samsung Electronics will post record Q2 2017 profits that will surpass all of the company’s previous second fiscal quarters thanks to the Galaxy S8 and the Galaxy S8 Plus, IBK Invest & Securities predicted, as reported by ZDNet. Due to its recently announced pair of Android flagships, the South Korean consumer electronics manufacturer will likely experience a 49-percent increase in operating profit over the course of this quarter, ultimately reaching approximately $11 billion, the report states. This achievement would beat the company’s record-breaking Q2 2013 by around 20 percent as the Galaxy S8 family is expected to do even better than the Galaxy S4, IBK’s Lee Seung-woo wrote in a note to the firm’s clients.
Other divisions of the Seoul-based tech giant are also expected to experience a massive boost in operating profit during this quarter and 2017 in general, as Samsung’s display panel, semiconductor, and memory units continue to grow. While Samsung’s second quarter of the year is expected to be extremely lucrative, the company’s Q1 2017 financial results are also said to reflect on the firm’s positive performance in recent months. The South Korean tech giant previously confirmed it will post preliminary financial results for the first quarter of the year on Friday, April 7, so more information regarding its operations will follow shortly.
Regarding the company’s upcoming flagship duo, the Galaxy S8 and the Galaxy S8 Plus are slated to be released worldwide on April 21, more than a year after Samsung launched the Galaxy S7 and the Galaxy S7 Edge. The relatively long hiatus between the releases of Samsung’s last two flagship lineups was likely caused by the Galaxy Note 7 fiasco that happened last fall. Following two unprecedented recalls that ultimately led to the discontinuation of Samsung’s 2016 phablet, the South Korean phone maker reportedly delayed the release of the Galaxy S8 handsets as it wanted to make sure it has enough time to upgrade its quality assurance practices and ensure a similar debacle never happens again. It remains to be seen how long Samsung takes to bounce back from last year’s ordeal but the company is certainly hoping to start the financial recovery process of its mobile unit with the Galaxy S8 and the Galaxy S8 Plus.