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It looks like Samsung will make more money than Apple in Q2

According to Samsung's earnings guidance, the tech giant will make more money in Q2 than one of its biggest rivals, Apple.

Published onJuly 7, 2017

Just like LG, Samsung has also announced its earnings guidance for the second quarter of 2017. The tech giant predicts that it will generate 60 trillion won ($51 billion) in revenue and 14 trillion won ($12.1 billion) in operating profit during the period. When compared with the same period a year ago, this is an increase of 17.79 and 71.99 percent respectively.

If the numbers turn out to be correct in the end, the second quarter will be a major success for the company. It would be the first time that Samsung’s profit would be higher than Apple’s, who is expected to generate $10.6 billion in Q2.

Folks seem to love the Galaxy S8's display, camera, and even Samsung itself

The first reason for the spectacular financial results is the Galaxy S8 series, which has been selling great. Samsung sold more than 10 million units in the first month alone.

The second reason is the increased demand — and higher prices — for memory chips, which made Samsung tons of money in the second quarter of the year. The company’s chip unit is expected to post 17.5 trillion won ($15.1 billion) in sales and 7 trillion won ($6 billion) in operating profit. This means that Samsung could have another reason to celebrate, as it would be the first time that it beats Intel when it comes to revenue. The world’s largest chipmaker is expected to “only” rake in $14.2 billion in the second quarter.

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