Analysts always give Samsung a pretty good rap for quarterly profits, targets that Samsung usually meets, exceeds a bit or at least come very close to. Samsung is certainly no small fry, and their numbers each quarter and each year reflect that quite nicely. Analysts have picked up on this and normally set the bar pretty high for them. This quarter, however, the tech giant is reportedly all set to post profits that utterly decimate previous estimates. Initial expectations for the year had Samsung's Q2 looking fairly good, but an unexpected boom in sales of memory chips and the wild success of the Galaxy S7 and Galaxy S7 Edge put numbers for the quarter at a far more heavenly level than initially expected.
Specifically, their operating revenue for the quarter, based on current figures, is projected to land at about 51.3 trillion won, with 8 trillion won in profits. That translates to about $6.8 billion in net profits for this quarter alone, more than some companies in the same space make all year. While Samsung has hands in home entertainment, appliances and even ships, the Samsung Galaxy S7 won the day this quarter, in a similar fashion to the way that, despite only having been available for a few weeks, it pulled Samsung's first quarter for 2016 sharply up at the tail. Rollouts of new types of RAM and NAND flash and ever-increasing sales of existing models to an ever-increasing list of clients also played a major role in Samsung's incredible second quarter. Developer advocacy in the mobile space and some seriously clever, and in some cases heartwarming, marketing also helped.
While memory chips and their mobile division were the Dudley Do-Right and Superman of the quarter, there were a couple of unsung heroes in the form of their IT consulting division and mobile communications, where they're competing with the likes of Huawei and Nokia while racing to get into the number 3 spot in the rising 5G market. While analysts' figures vary a bit, with some putting the profits for the quarter at 7.9 trillion won instead of 8 trillion won, the trend of rising sharply from initial estimates has permeated just about the entire roster of industry insiders and analysts. However many dollar signs may be in analysts' eyes, it's clear that Samsung has blown everybody away with a concerted effort on all fronts to really deliver this quarter.