Samsung Electronics today announced financial results for the second quarter ended June 30, 2016. Samsung’s revenue for the quarter was KRW 50.94 trillion, an increase of KRW 2.40 trillion YOY, while operating profit for the quarter was KRW 8.14 trillion, an increase of KRW 1.24 trillion YOY. The second quarter saw significant earnings growth led by strong performance both in the set and component businesses. Overall earnings of the set business improved YOY as well as QOQ due to the continuous sales increase of premium products. The IT & Mobile Communications (IM) Division saw substantial earnings improvement led by expanded sales of flagship products such as the Galaxy S7 and S7 edge. A streamlined mid-to low-end smartphone lineup also contributed to improved profitability. Operating profit for the IM Division was KRW 4.32 trillion. The Consumer Electronics (CE) Division achieved significant earnings growth YOY led by strong sales of its premium lineup such as SUHD TVs, Chef Collection Refrigerator, AddWash washer and newly launched air conditioner. The component business achieved solid performance although overall earnings decreased YOY due to ASP declines in the industry. Earnings for the Display Panel segment improved QOQ led by increased OLED capacity utilization and stabilized LCD panel yields. Demand for semiconductors for mobile and SSD increased and the company achieved solid growth with a competitive edge in di
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