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Business

Samsung soars with $7 billion earnings

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Business

Samsung soars with $7 billion earnings

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COMING UP:Samsung soars with $7 billion earnings

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00:00:02
>> South Korean tech giant Samsung unveiling its best earnings in more than two years on Tuesday. Pocketing more than $7 billion in the second quarter. A welcome bounce back after the company took a beating from rivals Apple and Huawei last year. The key factor, strong sales of the flagship Galaxy S7 and S7 Edge smartphones.
00:00:22
The company's mobile division making up half of it's April to June profits which are up 18% from a year ago. It's a strong showing from the world's largest smartphone maker and it comes at a convenient time. Apple is struggling to boost iPhone sales in key markets like China.
00:00:38
And analysts say the next iPhone set for launch in September, may not have many new features. Potentially clearing the way for more Galaxy sales. Samsung's budget phones are seeing healthy sales in emerging markets like India. Shirking off value brands like China's Xiaomi, even if they beat Samsung on price.
00:00:56
The company says it expect solid sales to continue to the second half of 2016. The strong demands for components like chips and display units, and it's also planning to roll out a new Galaxy Note phone tablet hybrid earlier than usual this year. Hoping to drum up hype and pick up the sales slack before the iPhone 7 hits the shelves.
00:01:15
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