Samsung Electronics posts record-high operating profit in Q2

Samsung Electronics’ previous high for its quarterly operating profit was 10.16 trillion won in the third quarter of 2013.

Samsung witholds sector-by-sector business performance until it releases its final earnings report later this month.

This marks an increase of 72 percent in year-on-year estimates.

Samsung has succeeded through consistent aggressive investments around the globe. Instead, analysts believe that huge growth in Samsung’s semiconductor and display panel businesses.

Earlier this week, many industry analysts predicted that Samsung would dethrown Intel as the number one chip manufacturer in the world.

Samsung is doubling down on its silicon success too, announcing earlier this week that it will be investing $18 billion in its chip manufacturing business.

Samsung did not elaborate on its April-June performance and will disclose detailed results at the end of July.

The company also has their new Galaxy Note 8 coming later this year, this handset is expected to land in August and it could be another popular device for the company.

Today, Samsung will start selling the refurbished versions of their Samsung Galaxy Note 7 under the name Samsung Galaxy Note 7 Fan Edition.

The company still faces questions, however, about its corporate culture as it battles a corruption scandal that has already taken down the former South Korean president, Park Geun-hye. Mr Lee denies the charges. Public outrage over the Lee Jae-yong case shows no signs of abating, and some employees speak of a cloud hanging over the company.

Samsung on Friday didn’t provide a breakdown of mobile-phone sales.

The clearest factor behind Samsung’s strong showing is the uptick in semiconductor prices amid brisk demand for smartphone and server chips. Samsung’s comfortable financial position is further supported by the positive reception of its latest flagship models, namely the Galaxy S8 and S8 Plus.

The Suwon, South Korea-headquarter company is preparing to expand its chip capacity in South Korea while reviewing whether to add more production lines in China to meet demand. The OTC shares are up 66% this year.