It’s no secret that the Galaxy S7 was the smartphone that Samsung has been waiting for a long time. It naturally sold in good numbers but what analysts could not predict is that they sold in such huge figures that it enabled Samsung to have the best quarter in over 2 years.
The Korean giant has made public the performance figures for the past quarter i.e. Q2 of 2016 for the investors and analysts. The final figures will be available once they are audited.
The good news is that Samsung has had a quarter that has beaten expectations and for the first time in a long period, seen a profit growth. The business was also profitable in the previous quarters but they were low and declining when compared to the same period the previous year.
As far as the numerical are considered, Samsung is expecting a revenue of $43.5 billion and the profits could be as high as $7 billion. When the figures of the same period last year are compared, the revenue was at $43 billion but the net profit was just $5.77 billion. A profit growth of 17%.
Trade pundits have mentioned that the power of the S-Series phones have once again proven that they are the top-most Android phones out there. When many companies are struggling to make a profit and are participating in a race to the bottom, the large profit margin and the premium price point of the S7/S7 edge have infused a new life into the mobile division in Samsung land.
But the coming quarter is a bit challenging for Samsung. The sales will naturally fall for the Galaxy S7 when the Note 7 releases. The hiccup is that the Note series phone have a loyal fan base and it generally doesn’t get sold in the S-Series phone level.