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  5. Samsung profits surge on Galaxy S7 sales

Samsung profits surge on Galaxy S7 sales

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Korean company posts best figures in two years.
Samsung Galaxy S7 white pearl

Samsung’s overall profits have jumped by 17% year–on–year, with the company making $7 billion between April and June.

The huge improvement is believed to be down to its Galaxy S7 and Galaxy S7 Edge smartphones, which were released in March.

Both handsets received huge critical acclaim and are widely regarded as the best smartphones available right now.

Samsung has yet to release detailed breakdowns of which divisions within the company made the most money during the second quarter, but it’s widely expected that the mobile division has been the most successful.

A number of market watchers believe Samsung’s mobile profits rose by 54.5% year–on–year.

Analysts claim that Samsung sold around 78 million smartphones during the quarter. Official figures will be revealed at the end of July.

It’s a remarkable turnaround for a firm which was predicting doom and gloom a year ago, as it struggled to cope with the runaway success of Apple’s iPhone 6.

Instead, Apple is now having to face up to declining iPhone sales.

Samsung is expected to press home its advantage by launching the new Galaxy Note 7 at a special event on August 2nd.

Source:

Reuters

Category: News
Tagged: samsung

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