Consumer electronics giant Samsung is forecast to report an operating profit of KRW30.6 trillion ($27.5 billion) this year, only the second time it has topped KRW30 trillion, on strong demand for its flagship Galaxy S7 and S7 Edge, according to South Korean financial analysts.

Its operating profit in 2013 hit a record KRW36.8 trillion.

After Samsung reported strong profit growth in the April-June quarter, FnGuide raised its profit target for the full year, Yonhap news agency reported. Its Q2 operating profit increased 18 per cent to KRW8.1 trillion.

Operating profit in the IT & Mobile Communications unit (including its handset division) increased 56.5 per cent to KRW4.32 trillion in Q2, on revenue that rose 1.9 per cent to KRW26.6 trillion.

Its new Galaxy Note 7 is expected to boost company profitability in the second half of the year, with revenue for the year predicted to expand nearly 3 per cent to KRW200 trillion, Yonhap said.

In Q2 Samsung maintained its top mobile device ranking with 23 per cent of the global smartphone market, growing from 21 per cent a year ago, after shipping 77.6 million units worldwide, up 8 per cent from 71.9 million units in Q2 2015, according to Strategy Analytics.