Samsung posts record profit in Q2 courtesy booming chip business

Leaving behind all the scandals and fiascos of 2016, Samsung reported a record operating profit of 14.07 trillion won ($12.6 billion US) in Q2 2017.

The Korean electronics giant pulled in a revenue of 61 trillion won ($54.8 billion) during the three-month period, a jump of 20 percent year-on-year, but net profit rose 89 percent thanks primarily to strong Galaxy S8 sales and Samsung’s components businesses.

The star performer was the chip business that posted 8 trillion won ($7.2 billion) in operating profit or nearly half the group's total.

The company, however, cautioned that overall earnings could slightly decline quarter-on-quarter as earnings from its display panel and mobile businesses weaken. It expects the chip business to continue good performance throughout the second half, but said that pressure from an industry increase in LCD supply “may remain a concern.”

Samsung also confirmed a new Galaxy Note is coming soon "with enhanced performance and features, to maintain the strong sales momentum of its premium smartphones, together with the Galaxy S8 and S8+."