Samsung is still doing very well

Samsung announced this week their Q2 earnings, and thanks to the strong Galaxy S7 smartphone sales, had one of their best quarters in a couple years. Most smartphone makers are feeling the hurt a little as there are more and more options available to consumers but somehow Samsung has managed to keep making money. The next couple quarters should be interesting as the S7 won't be the "newest" smartphone out there and sales will most likely drop and Samsung will have to rely on other offerings like their soon to be updated Galaxy Note to keep those sales and profits up. Reuters has all the details over here.

Tech giant Samsung Electronics Co Ltd said on Thursday its second-quarter operating profit likely rose 17.4 percent from a year earlier, its highest in more than 2 years as Galaxy S7 smartphone sales propelled mobile earnings.

The world's top maker of smartphones and memory chips said its April-June profit was likely 8.1 trillion won ($7 billion), better than the average forecast of 7.8 trillion won tipped by a Thomson Reuters survey of 16 analysts. It was the highest since a 8.5 trillion won profit in the first quarter of 2014.

The mobile division likely was the top earner for the second straight quarter, raising the question of whether the South Korean company can sustain this strong momentum in the face of competition from Apple Inc and cheaper Chinese rivals.