Samsung is now the most profitable consumer electronics company in the world

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Samsung Most Profitable Consumer Electronics Company

Samsung Most Profitable Consumer Electronics Company

In the second calendar quarter this year, Samsung stole Apple’s long-standing title and became the most profitable consumer electronics company in the world. The vendor posted unaudited earnings earlier this month and estimated that its quarterly profit climbed to a record $8.3 billion. Apple reported its June-quarter earnings on Tuesday and revealed that quarterly profit came in at $6.9 billion, 17% less than Samsung managed during the quarter. An earlier report estimated that Samsung’s second-quarter smartphone shipments totaled a record 71 million units, crushing Apple’s June-quarter iPhone sales, which totaled 31 million units. It has now been eight months since Apple last launched new mobile devices, however — the company is expected to release a number of new products this fall including a completely redesigned iPad and the highly anticipated iPhone 5S.

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