Samsung's Stock Price Soars to Record High in South Korea

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In the world of Android, there is one name that sits atop the ladder of the biggest smartphone manufacturers, and that's Samsung. A huge name not just in South Korea, but North America and all over the world, it's no surprise to see their name and their devices everywhere, but one thing many might not know is just how big Samsung really is in their home nation of South Korea. Accounting for much of the nation's entire GDP, Samsung is part of South Korea's DNA, and when Samsung does well, you could argue that so too, does the nation itself. Recently, the stock price for Samsung Electronics hit a record high in South Korea, and it's impressive stuff to hear.

On May 1st of 2016, the share price for Samsung Electronics hit a record high of 1.33 Million Won for a period of six months. That's USD$1,156 a share, which is pretty amazing, but what's more amazing is that analysts and the industry don't see this trend stopping any time soon. As the industry looks ahead to a strong Q2 2016 performance for the South Korean brand, their share price sees a little inflation. On June 1st, 2016, the company's share price was up over 3 percent, compared to the previous day's trading and Samsung Electronics now makes up – all on its own – 15.17 percent of the aggregate market value of the entire Korea Composite Stock Price Index (KOSPI). Analysts are predicting that Samsung could post operating profits from 6.77 Trillion Won (USD$5.68 Billion) to as much as 7.15 Trillion Won (USD$6 Billion). These are figures that have gone up recently, and while we'll have to wait a while before we see the real Q2 2016 figures from Samsung, it sure sounds as if things are looking up at Samsung.

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With the Galaxy S7 and Galaxy S7 Edge performing strong, and new devices like the new Gear Fit2 entering other market segments, Samsung appears to be well-positioned for a strong second half of the year. With the upcoming Galaxy Note still be revealed as well, there are lots of reasons to be optimistic at Samsung and we're sure that the Q2 2016 results will make for interesting reading once they're finalized.

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Former Editor-in-Chief

For years now I've had a heavy interest in technology, growing up with 8-bit computers and gaming consoles has fed into an addiction to everything that beeps. Android saved me from the boredom of iOS years ago and I love watching the platform grow. As an avid reader and writer nothing pleases me more than to write about the exciting world of Android, Google and mobile technology as a whole.

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