Samsung profit tops estimates on Galaxy S7 demand

Seoul

SAMSUNG Electronics Co posted better-than-anticipated profit as continued demand for its Galaxy S7 smartphones helps turn its mobile devices business around.

Operating income rose to 8.1 trillion won (S$9.5 billion) in the three months ended June, the world's largest maker of phones and memory chips said in preliminary results released on Thursday. That compares with the 7.38 trillion won average of analysts' estimates compiled by Bloomberg and 6.9 trillion won a year earlier.