Samsung beats expectations due to better S7 sales
Just a few days ago it was reported that Samsung has been shipping more S7’s than expected, yes the increase in sales are clearly evident in Samsung’s latest earnings call.
Samsung Electronics said on Thursday its first-quarter operating profit likely rose 10.4 percent from a year earlier, beating expectations and pointing to strong sales. The world’s top smartphone maker said in a regulatory filing its January-March operating profit was likely 6.6 trillion won ($5.72 billion), well above the 5.6 trillion won profit tipped by a Thomson Reuters. Sales rose 4 per cent over a year earlier to 49 trillion won in line with expectations.
Samsung’s earnings suffered from a big decline since mid-2014 as premium handset sales slowed and its share in China’s mobile phone market sank due to the rise of local players. S7 and S7 Edge are undoubtedly the best devices Samsung has ever made and have been in demand due to perfect features and pricing. Even though competition from players like OnePlus and Xiaomi has decreased Samsung’s sale in low and mid tier range, Samsung has still managed to hold on to the top tier very well.