SEOUL, July 30 (Xinhua) -- Samsung Electronics, the world's largest maker of memory chips and flat-screen panels, on Friday reported a record second-quarter operating profit of 5.01 trillion won (4.2 billion U.S. dollars), a whopping 88 percent increase year-on-year.
The company's net profit also posted a record high at 4.28 trillion won in the April-June period, an 83 percent rise from a year earlier. Sales rose 17 percent to 37.89 trillion won.
The company, in a statement, attributed its increased profitability in the second quarter to significant improvements in the component business.
The semiconductor business registered an operating profit of 2.94 trillion won while the LCD business achieved an operating profit of 880 billion won.
"In the second quarter, our component businesses performed very strongly, yet it was a more challenging quarter for our set businesses," said Robert Yi, Vice President and head of Samsung's investor relations team, in the statement. "With intensified competition throughout the digital media and mobile industries going forward, it may become a challenge to maintain current profitability levels."
He vowed to continue to focus on introducing differentiated products and widening the company's technology leadership in components to meet these difficult market conditions.