Samsung overtakes Apple to become the biggest phone manufacturer in the world
Though Samsung is the world’s leading smartphone maker, it was bumper demand for memory chips that drove the company’s earnings to new heights. The chips unit posted 8 trillion won ($7.2 billion) in operating profit, or nearly half the group’s total. Analysts expect the momentum to continue for the rest of the year, driven by the release of Samsung’s next smartphone, the Galaxy Note 8, and sustained demand for memory chips.
Nonetheless, Greg Roh, an analyst at HMC Investment Securities, told AFP:
“Samsung has surpassed its rivals for now but Apple usually sees little fluctuation in its profits whereas Samsung’s profits fluctuate largely on memory chip prices.”