Samsung forecasts record-breaking profits

South Korea’s giant conglomerate Samsung’s Electronics division is suggesting that its Q2 profits will be a record-breaking 14 trillion Won (about $12.1 billion), up 72 per cent. The division looks after TV displays, cellular phones and the manufacture of (DRAM and NAND) memory and solid-state modules. The actual numbers will be confirmed at the end of July.

The results will see Samsung overtake Apple, and make it the world’s most profitable non-financial business.

Most observers see Samsung’s display panel divisions (for cellular as well as TV) doing well with strong demand for Samsung’s small-format OLED screens. Some put Samsung’s domination of this sector as being at least 90 per cent of world supply.

Forbes says that Samsung’s Q1 growth in display sales saw operating margins of about 18 per cent. A year ago the division lost money in a year which saw it expensively recall its Galaxy Note 7 cell-phones.

Samsung is now widely reported to be the sole supplier of OLED screens for Apple’s next-generation iPhone set for release in September.

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