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Samsung Q2 net jumps 50 pct on Galaxy boom, higher chip prices

2013/07/26 08:51

SEOUL, July 26 (Yonhap) -- Samsung Electronics Co., the world's top maker of computer memory chips and smartphones, said Friday that its second-quarter profit spiked 49.6 percent from a year earlier, buoyed by robust shipments of its flagship Galaxy S smartphones and higher chip prices.

Net profit came to 7.77 trillion won (US$6.96 billion) in the April-June period, compared with a profit of 5.19 trillion won a year earlier, the company said in a regulatory filing.

Revenue soared 20.7 percent on-year to 57.46 trillion won in the second quarter and operating profit climbed 47.5 percent to 9.53 trillion won.

The stronger bottom line was largely attributed to strong sales of the company's flagship mobile devices and seasonal demand for electronics products and higher chip prices.