The biggest driver of the rapid recovery was Samsung’s semiconductor business. AFP / JUNG Yeon-Je
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Sprawling South Korean conglomerate Samsung Electronics has recovered from a humiliating recall fiasco and the arrest of its de facto leader with remarkable speed, analysts said, after the tech giant stunned investors with record-breaking profits.Samsung took observers by surprise this week when it posted a forecast-beating 14.1 trillion won ($12.6 billion) in operating profits in the second quarter – a 73 percent jump from the previous year – putting it on course to better rival Apple for the first time. The biggest driver of the rapid recovery was Samsung's semiconductor business, which raked in 8.03 trillion won in operating profit in the second quarter, up 204 percent from the previous year. Samsung provides chips to other companies including Apple.The bigger challenge for Samsung is what happens after the harvest, as the firm faces questions over its "untested" leader and the growing threat from Chinese rivals.
FOLLOW THIS ARTICLE