Apple recently announced it quarterly results, despite lower growth, overall report was expected and did not shock the markets. Samsung Electronics has also announced its financial results for the second quarter and the reports are pleasing as well. Looks like all’s well in tech…what bubble everyone’s talking about!!!

For the quarter ending June, revenue was up by 2.40 trillion won on 50,94 trillion won in revenue, mainly coming from the success of mobile units division. Galaxy S7 and S7 edge has led the pack in terms of sales and contributing substantially to the growth of the company. With the introduction of mid-to-low end smartphone lineup like the A and J-series also contributed to the improved profitability, debut of C-series especially for the China market added to the bottom line.

Other divisions like consumer electronic did achieve significant earnings growth, but TV is seeing headwinds with slow down and near flat increment. Future is not looking to bright for this segment of the business, RM22,000 SUHD is not on the radar for most consumers.

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 due to sales growth in high value-added products and stable demand and supply conditions. The launch of Galaxy Note 7 will steady the ship in this aspect, with demand for large screen continue to see an uptrend, unique with a stylus pen, the Note has near to no competition that can rival this function and will definitely generate additional revenue for Samsung. Olympics will be another key factor that will see global branding and exposure in return cause increase in sales for limited edition products associated with the sport.

With expectation from component business to maintain its solid performance for the third quarter and stable earnings from LCD and OLED, Samsung will be wrapping of 2016 with another jubilant closing.