Samsung profits up

Samsung-SSD-ActivatedKorean chaebol Samsung said that it made an operating profit of $5.96 billion in its second quarter with semiconductor business leading the way.

Samsung often makes the press as a manufacturer of smartphones but it is a big company with fingers in almost every vertical pie.

As well as making smartphones, for example, Samsung also makes components for a variety of purposes and has a big flat panel business too.

It also makes memory components and expects bouyant sales in the second half of this year.

But it sounded a warning about its smartphone business as it faces increasing competition from Chinese manufacturers, particularly at the low end.

It said in a regulatory statement that its high end S6 Edge phone is selling so well it’s unable to meet demand.