Samsung’s Galaxy S7 and S7 Edge are considered two of the best smartphones available today. The devices have proved so popular, they’ve helped Samsung achieve its most profitable quarter in two years.
The Korean tech giant has reported an operating profit of 8.14 trillion won ($7.22 billion) on revenue of 50.94 trillion won ($45.2 billion) for Q2 2016. The figures show an 18 percent year-on-year profit increase and a five percent annual revenue increase.
More than half of Samsung’s revenue came from its mobile division, which, despite the global slowdown in smartphone shipments, was bolstered by sales of the Galaxy S7 and S7 Edge.
The new flagship devices have sold better than their Galaxy S6 and Edge variant predecessors, with the more expensive S7 Edge making up more than half of all Galaxy S7 sales in Q2.
It wasn’t just Samsung’s high-end phones that contributed to the healthy figures; the firm’s mid- to low-end models - the Galaxy A and J series - also sold well, adding to the 78 million smartphones the company shipped in the last quarter.
Samsung predicts that the rest of the year will be equally positive, thanks to increasing demand for its components, such as OLED panels, and continuing growth in the UHD TV market. The upcoming unveiling of the next Galaxy Note is also expected to increase revenue across the remainder of 2016.
"Looking ahead to the second half of 2016, the company expects its solid performance to continue compared to the first half, mainly driven by earnings increase in the component business," Samsung said in a statement.