The future looks bright for Samsung. According to a report from IBK Invest & Securities, the company will have a record-breaking second quarter thanks to the Galaxy S8 and S8 Plus. The company is expected to increase its operating profits by 49 percent in Q2 when compared with the same period a year ago. It will generate 12.1 trillion won, which is around $10 billion.

The recently announced flagship smartphones are not the only reason for the great financial results that are expected. Sales of semiconductors and OLED panels are also expected to increase not only in the second quarter but throughout the year as well.

IBK Invest & Securities also predicts that Samsung’s annual operating profit will rise for 69 percent, while revenue will increase by 14 percent when compared with the year before. The semiconductor division is expected to contribute 26.9 trillion won (around $24 billion) in annual operating profits, the display division will make 6.6 trillion won (around $6 billion), while Samsung’s smartphone business will bring in 13.1 trillion won (around $11 billion).

Let's give it to Samsung for making 64 GB standard in the Galaxy S8

It looks like Samsung will make a lot of money this year. The Galaxy S8 and S8 Plus will contribute a lot to the company’s success, as they are expected to sell a lot better than last year’s Galaxy S generation. The company is so confident that it actually decided to double the initial supply of the Galaxy S8 and S8 Plus when compared with their predecessors. This means that it will initially prepare 20 million units of the two devices.

Please do keep in mind that these are just predictions for now and must, therefore, be taken with a grain of salt. Although it does look like they might come true, as the Galaxy S8 and S8 Plus really look like they will be a hit among consumers.

However, the two devices are facing more competition this year, mainly from the LG G6. The smartphone also offer high-end specs, a great bezel-less design, and comes equipped with a dual-camera setup on the back, which you won’t find on Samsung’s flagship devices.