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Smartphones lift Samsung to best earnings in over 2 years

Posted online July 8, 2016 | 11:40 am

Buoyed by Galaxy S7 smartphone sales, Samsung Electronics yesterday reported its highest earnings in two years.

The world’s largest maker of smartphones and memory chips reported a 17.4 percent increase in operating profits to $7 billion in the second quarter.

The April-June number fell just shy of nearly $7.4 billion the company earned during the first quarter of 2014.

According to Fortune, the company expects to maintain that momentum through 2016 – despite Apple’s next iPhone due in September – with the launch of its newest Galaxy Note model.

Read more from Fortune.

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