Samsung estimates 7.5 per cent gain in 1Q operating profit

But in January, Mr. Sharma found a Galaxy J2 smartphone that fit his budget.

At the same time, the South Korean won weakened against the USA dollar and helped lift the company's first-quarter bottom line. Apple Inc.in March launched a cheaper version of its iPhone at $399, ensuring the smartphone price war will continue this year. Last month numerous broking houses upgraded the sales expectation for the flagship phones. Its mid-range products like the Galaxy J series and Galaxy A series are doing well in emerging markets, Kaur said.

"From the next quarter, there will be a rise in marketing costs for consumer sales".

The South Korean electronics giant estimated its first-quarter operating profit would beat forecasts at KRW 6.6trn (£4.1bn), well above the KRW 5.6trn estimates by a Thomson Reuters survey of 23 analysts. Its new process shrinks circuit widths, which reduces the size of the chip, to produce more from each slice of silicon wafer and boost profit. Analysts estimate Apple's gross margin at roughly 40%.

"Material costs you can't decrease in a day", he said.

The handset is also rumored to come with 6GB of RAM and it may also be one of the first Samsung smartphones to offer a 256GB storage option, using Samsung's.

Despite the price gap, Apple's emerging market-focused phone could pose a threat to Samsung, some analysts say, particularly if it wins approval to import refurbished iPhones.

For the same quarter in 2015, Samsung's operating profit was at 6tn won.

This marked the highest level since the third quarter of 2015.

That represents a gain from 6 trillion won a year earlier. Analysts revised their first-quarter sales forecasts for the Galaxy S7 smartphones sharply higher to about 10 million units from 5 million to 7 million units. These new models aren't just Samsung's best smartphones, but, perhaps, the best smartphones.

"Samsung has regrouped itself but will have to be constantly on its toes", IDC analyst Kiranjeet Kaur said. The slower than expected pace at which Samsung's moving to advanced LCD production technology is also hurting the business.

Source: Samsung estimates 7.5 per cent gain in 1Q operating profit

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