In 2016 Patently reported that Apple could sign an exclusive iPhone OLED display contract with Samsung for their 2017 anniversary iPhone and they went on to do just that. So it's ironic that Apple's massive OLED display and NAND flash memory orders for the new iPhones have handed Samsung their most profitable quarter ever and one that is likely to surpass their own profitability. No wonder Apple is investing in the new LG plant and was trying to assist Foxconn acquire Toshiba for future NAND products.

Today Samsung Electronics said in its earnings preview that it expects the operating profit of the April-June period to stand at 14 trillion won ($12.1 billion won), a new record high, thanks mainly to robust sales of memory chips and smartphones. The second quarter operating profit increased 71.99 percent on year. The previous quarterly operating profit record was 10.1 trillion won set in the third quarter of 2013. 

The soaring prices and increased demand of the DRAM and NAND memory chips are thought to have contributed to the higher-than-expected profits.

The tech giant is estimated to have earned more than half of the 14 trillion won operating profit from the semiconductor business while its mobile, display panel, and consumer electronics businesses are forecast to have earned 4 trillion won, 1.5 trillion won and 800 billion won, respectively.

Of course it should be duly noted that Samsung's main profits were not from their smartphone/mobile division. We reported in February that Apple took 92% of the smartphone industry's profits, Apples seventh straight quarter of record profits.

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