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Samsung is now bigger than Apple as a tech company

Samsung is now bigger than Apple as a tech company
Dreamstime

Apple and Samsung are two of the biggest heavy-hitters in the tech industry. They have been battling for marketplace supremacy in the world of smartphones for years.

With 2017 being the 10-year anniversary of the iPhone, we're expecting big things in this year's model. You might think that puts Apple in the driver's seat in this ongoing battle. Don't be so sure.

How Samsung has overtaken Apple

Samsung announced on Friday a $12.1 billion operating profit for Q2 of 2017. That's an increase of over 70 percent from this time last year.

It makes Samsung the most profitable tech company in the world. This is an amazing rebound after last year's Galaxy Note 7 nightmare. Of course, that's when the company had to do a total recall on the smartphone because of an exploding battery issue.

Meanwhile, Apple is projecting a $10.6 billion operating profit for 2017's Q2. Its official numbers won't be released until August 1.

Samsung's remarkable comeback is partly due to help from Apple. That's because Samsung's OLED display screen will be implemented on at least one version of Apple's upcoming iPhone.

Another reason for Samsung's success is its leadership in the world of smart appliances. Click here to see how Samsung's new smart kitchen appliances will transform your home cooking experience.

These factors, along with excitement over the upcoming release of the Galaxy Note 8, has caused Samsung's stock to rise. It's near an all-time high of nearly $2,075 per share.

We'll have to see if things change when Apple releases its latest iPhone models this fall. Samsung has taken the lead, but the war continues.

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Source: TheWrap
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