09 July, 2017
South Korea's ruling party made a rare comment about Samsung Electronics Co.'s good second-quarter earnings Saturday, a gesture seen as a prod to get the world's largest manufacturer of smartphones to do more to revitalize the local economy. This represents a massive 72% YoY growth over Q2 2016 when Samsung posted 8.14 trillion Korean won ($7 billion) in profits.
Benefitting from both a rise in demand and price for semiconductors and smartphone memory chips, many industry analysts now believe Samsung could outdo Intel in terms of sales in 2017.
The result beats expectations and puts Samsung on track to report the highest profit in its history for the full year.
"Samsung's second-quarter estimates have been baked into the market for the past weeks, and investors remained cautious amid increased tension on the Korean Peninsula", said Kim Sung-hwan, an analyst at Bookook Securities.
On Tuesday, Samsung said it would invest an additional 20 trillion won, or more than $17 billion, in its South Korea semiconductor facilities.
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The mobile business gathered ground on strong sales of the Galaxy S8 smartphones, which increased the average-sales-price of its handsets.
Galaxy S8 shipments could top 15 million units this quarter, Tim Long, an analyst at BMO Capital Markets, told clients in a note Friday. SK Hynix is also expected to see its operating profits grow almost 500 billion won (US$433.09 million) from the previous quarter.
Additionally, with iPhone 8 component orders creating a worldwide shortage of DRAM and NAND chips, Apple was yesterday reported to have turned to Samsung's chip division for some of its 3D NAND chips. The iPhone maker, the world's No. 1 company by market capitalization, is scheduled to release its quarterly earnings results on August 1.
The company 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 means that overall performance has become dependent on semiconductor stocks, including Samsung Electronics, even further.