Samsung Electronics is set to beat US Apple in terms of operating profits for the second quarter, market watchers said Thursday, although the archrival is still expected to stand as the No. 1 player on the earnings chart for all of 2017.

The outlook came as Samsung is presumed to have posted record-high earnings for the April-June period at 14 trillion won ($12 billion), compared with 8.14 trillion won a year earlier, the company said last week in its regulatory filing.

Samsung's second-quarter earnings estimate is far higher than $10.5 billion in second-quarter earnings expected for Apple, market watchers said. It marks the first time for Samsung to beat Apple in quarterly earnings.

While Samsung is narrowing the gap with the US archrival, Apple is still expected to stand as the top tech player by earnings for 2017. Apple is expected to post $60.6 billion in operating income for the year, while that of Samsung is estimated between 49-53 trillion won.

Apple normally posts stronger earnings later in the year as it showcases new iPhones in the second half, market watchers said.

The US tech firm's fiscal year 2017 runs from Sept. 25, 2016, through Sept. 30, 2017. (Yonhap)