Samsung reported its best earning results in two years on Thursday as the company's Galaxy S7 phones outperformed all expectations, despite slowing growth in the overall smartphone industry (via The New York Times).

The South Korean company announced a 8.14 trillion won ($7.22 billion) operating profit on revenue of 50.94 trillion won ($45.2 billion), up 18 percent from the previous year.

samsung_logo
The firm's key mobile division, which accounts for more than half its revenue, experienced "substantial earnings improvement" as its high-end Galaxy S7 and S7 Edge phones enjoyed expanded sales, despite competition from Apple's iPhones and by lower-end devices from Chinese rivals like Xiaomi and Huawei.

Samsung forecast "solid" performance for the rest of the year despite increased competition as "other companies release new mobile devices", thanks to strong demand for its components, such as OLED displays, which the company expected to increase "substantially".

The company is also betting on an uptick in revenue generated by next week's unveiling of its Galaxy "Note 7" smartphone, which is thought to feature an edge-to-edge curved screen, an iris scanner, and potentially a USB Type-C port.


The good news for Samsung came two days after its arch-rival Apple revealed its second consecutive year-on-year declines in quarterly revenue and iPhone sales, although the reported dips were smaller than analysts predicted.

In stark contrast to the marked popularity of Samsung's high-end devices, Apple's lower-cost iPhone SE was the bright spot in the Cupertino company's earnings call, gaining more traction than expected and going some way to soothe investor's concerns over growth.

Prior to the earnings call, Apple stock had lost more than a fifth of their value over the year amid mounting concerns about the slowdown. Despite worries, Apple's shares jumped as much as 7.5 percent on news of its Q3 results, as investors remained optimistic in the run-up to the company's iPhone 7 launch this September.

According to a recent report by Kantar Worldpanel, Samsung’s Galaxy S7 devices accounted for 16 percent of mobile purchases made by U.S. customers this year, while only 14.6 percent opted for an iPhone 6S or iPhone 6S Plus.

Growth in the smartphone industry will slow to 3.1 percent this year, down from 11 percent last year and 28 percent in 2014, according to researcher IDC.

Tag: Samsung

Top Rated Comments

Benjamin Frost Avatar
117 months ago
Samsung is becoming the new Apple.

How times have changed.
Score: 19 Votes (Like | Disagree)
Dilster3k Avatar
117 months ago
Wow Samsung, now you're even copying Apple's sales.... Jeeeeeez
Score: 15 Votes (Like | Disagree)
Pagemakers Avatar
117 months ago
Who cares about Samsung?
I bet Nokia said that 10 years ago!
Score: 14 Votes (Like | Disagree)
BvizioN Avatar
117 months ago
Then Samsung appears to be doing something right!
Score: 11 Votes (Like | Disagree)
TechZeke Avatar
117 months ago
From all the reviews, Samsung made an excellent phone, and they were rewarded. This used to be what Apple understood. Make the best product you can make, and profits will follow.
Score: 11 Votes (Like | Disagree)
Chupa Chupa Avatar
117 months ago
It's irritating how good Samsung phones are. I can't switch from iOS because I rely too much on its services so I can only look on with envious eyes.
Freaks me out a bit to admit it, but yes. I'm not as reliant on services, but I am lazy in that I have my iOS devices set up perfectly for me and don't want to have to configure a whole set of new devices. Plus I do like the fact that iOS apps are sandboxed and given some scrutiny for "safety."

That said I don't think any Apple fan, or executive, can dismiss Samsung as in the recent past. It's just not credible anymore. And Samsung seems a bit more serious about it's smart home initiative too, something else that should worry Apple if it wants to be the hub of people's living rooms, as well as their pockets.

And with the iPhone 7 looking like a unappealing placeholder until Apple can get its act together for its top 2017 model, the Galaxy 7 just may hold the title as the most advanced phone on the planet and use it as an opportunity to steal less Apple service reliant users.
Score: 10 Votes (Like | Disagree)

Popular Stories

iPhone 17 Pro in Hand Feature Lowgo

iPhone 17 Pro to Reverse iPhone X Design Decision

Monday July 7, 2025 9:46 am PDT by
Since the iPhone X in 2017, all of Apple's highest-end iPhone models have featured either stainless steel or titanium frames, but it has now been rumored that this design decision will be coming to an end with the iPhone 17 Pro models later this year. In a post on Chinese social media platform Weibo today, the account Instant Digital said that the iPhone 17 Pro models will have an aluminum...
iOS 26 Feature

Everything New in iOS 26 Beta 3

Monday July 7, 2025 1:20 pm PDT by
Apple is continuing to refine and update iOS 26, and beta three features smaller changes than we saw in beta 2, plus further tweaks to the Liquid Glass design. Apple is gearing up for the next phase of beta testing, and the company has promised that a public beta is set to come out in July. Transparency In some apps like Apple Music, Podcasts, and the App Store, Apple has toned down the...
imac video apple feature

Apple Launching These 15+ Products Later This Year

Sunday July 6, 2025 8:05 am PDT by
The calendar has turned to July, meaning that 2025 is now more than half over. And while the summer months are often quiet for Apple, the company still has more than a dozen products coming later this year, according to rumors. Below, we have outlined at least 15 new Apple products that are expected to launch later this year, along with key rumored features for each. iPhone 17 Series iPho...
iphone 16 pro models 1

Here's How the iPhone 17 Pro Max Will Compare to the iPhone 17 Pro

Saturday July 5, 2025 1:00 pm PDT by
Apple should unveil the iPhone 17 series in September, and there might be one bigger difference between the Pro and Pro Max models this year. As always, the Pro Max model will be larger than the Pro model:iPhone 17 Pro: 6.3-inch display iPhone 17 Pro Max: 6.9-inch displayGiven the Pro Max is physically larger than the Pro, it has more internal space, allowing for a larger battery and...
iPhone Car Key Kia

Here's Which Vehicles Offer iPhone Car Keys

Sunday July 6, 2025 3:03 pm PDT by
In 2020, Apple added a digital car key feature to its Wallet app, allowing users to lock, unlock, and start a compatible vehicle with an iPhone or Apple Watch. The feature is currently offered by select automakers, including Audi, BMW, Hyundai, Kia, Genesis, Mercedes-Benz, Volvo, and a handful of others, and it is set to expand further. Apple has a web page with a list of vehicle models that ...
apple wallet drivers license feature iPhone 15 pro

Apple Says iPhone Driver's Licenses Will Expand to These 8 U.S. States

Tuesday July 8, 2025 11:26 am PDT by
In select U.S. states, residents can add their driver's license or state ID to the Wallet app on the iPhone and Apple Watch, providing a convenient and contactless way to display proof of identity or age at select airports and businesses, and in select apps. Unfortunately, this feature continues to roll out very slowly since it was announced in 2021, with only nine U.S. states, Puerto Rico,...
iphone 17 pro render majin bu

New iPhone 17 Pro Renders Highlight Apple Logo and MagSafe Design Changes

Sunday July 6, 2025 8:43 pm PDT by
New renders today provide the best look yet relocated Apple logo and redesigned MagSafe magnet array of the iPhone 17 Pro and iPhone 17 Pro Max. Image via Majin Bu. Several of the design changes coming to the iPhone 17 Pro model have been rumored for some time, such as the elongated camera bump that spans the full width of the device, with the LiDAR Scanner and flash moving to the right side. ...
apple account card feature

Apple Account Card Expanding to More Countries

Tuesday July 8, 2025 7:34 pm PDT by
Apple is expanding the ability to add an Apple Account Card to the Wallet app to more countries, according to backend Apple Pay changes. With iOS 15.5, Apple updated the Wallet app to allow users to add an Apple Account Card, which displays the Apple credit balance associated with an Apple ID. If you receive an Apple gift card, for example, it is added to an Apple Account that is also...
iPhone 17 Pro in Hand Feature Lowgo

iPhone 17 Pro Coming Soon With These 14 New Features

Friday July 4, 2025 1:05 pm PDT by
Apple's next-generation iPhone 17 Pro and iPhone 17 Pro Max are just over two months away, and there are plenty of rumors about the devices. Below, we recap key changes rumored for the iPhone 17 Pro models. Latest Rumors These rumors surfaced in June and July:Apple logo repositioned: Apple's logo may have a lower position on the back of the iPhone 17 Pro models, compared to previous...