Apple just made rival Samsung the king of tech

Samsung may be the new king of tech companies. Analysts claimed Samsung has Apple, its biggest competitor to thank. In an earnings guidance report Friday, Samsung revealed a sharp increase in its revenue. Samsung's most profitable division specializes in selling parts like memory chips and screens to companies like Apple. The highly-anticipated iPhone 8 will feature a new next-gen OLED screen, which Samsung reportedly is the only supplier of. Drexel Hamilton analyst Brian White explained Samsung's success: "Final June sales for our Apple Monitor rose by 18% month-over-month and well above the average decline of 2% over the past twelve years. This compares to the five year average decrease of 7% and a 2% increase in June 2016. We believe the initial ramp of certain components for the new iPhones this fall, combined with recently launched Macs and iPad Pros, contributed to this performance." The company expects their operating profit to grow by 72 percent to $12.1 billion and its revenue to jump 18 percent to $52 billion.