In the second calendar quarter this year, Apple retained its long-standing title of most profitable consumer electronics company in the world. Earlier this month, Samsung posted unaudited earnings and estimated that its quarterly operating profit climbed to a record $8.3 billion. Apple reported its June-quarter earnings on Tuesday and revealed that quarterly net profit came in at $6.9 billion while its operating fell to $9.2 billion. Samsung did manage to widen its smartphone unit sales lead, however — an earlier report estimated that Samsung’s second-quarter smartphone shipments totaled a record 71 million units, crushing Apple’s June-quarter iPhone sales, which totaled 31.2 million units. It has now been eight months since Apple last launched new mobile devices, though, and the company is expected to release a number of new products this fall including a completely redesigned iPad and the highly anticipated iPhone 5S.

UPDATE: Samsung’s unaudited results include operating profit, not net profit, so the original claims made in this post were inaccurate. Apple posted a $9.2 billion operating profit in the June quarter, while Samsung’s operating profit was $8.3 billion. The headline and body of this post have been updated to correct an earlier error that compared Samsung’s operating profit to Apple’s net profit.

Zach Epstein has worked in and around ICT for more than a decade, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.