The world's largest producer of smartphones stated that its operating profit in the period January to March is anticipated to hit 6.6 trillion Korean won or £3.9bn. In recent survey by the publication, 13 of 19 analysts predicted that Samsung's first-quarter operating profits would top $4.8 billion, a 4 percent jump from the same period a year earlier. Smartphone sales this year are expected to rise by a single-digit percentage for the first time, Gartner Inc said. Pricing pressures in the handset business, including Samsung's own, are squeezing chip profits and the S7 did not include a significant processor or memory upgrade.
"Energy, petrochemicals firms and steelmakers are entering an upside cycle, which means corporate earnings would not be bad", said Kim Dae-jun, an analyst at Korea Investment & Securities.
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. The company launched the S7 models on March 11, a month sooner than it launched the Galaxy S6 in April of past year.
After Korean tech giant, Samsung, launched their latest flagship phones, the Samsung Galaxy S7 and Samsung Galaxy S7 Edge, a lot consumers bought them in the first few days that they were on sale.
Most of Samsung's revenue is in telephones, a decelerating market in which it also competes with Huawei Technologies Co (華為) and Xiaomi Corp (小米). The latest Galaxy S7 Edge and S7 handsets are water-resistant and are powered by Qualcomm quad-core 2.15GHz/1.6GHz processors for U.S. users and include 4GB of LPDDR4 memory, 32GB of built-in storage, microSD expansion slots, a 12-megapixel dual-pixel rear camera and a 5-megapixel front-facing camera. Samsung also resolved the output issues that slowed the production of the curved screens a year ago.
According to Bloomberg, Samsung Electronics introduced its high-end mobile phones in March, one month earlier than 2015, with sales of the S7 line-up calculated to have struck nine million units during their first month. "We expect [the company] to release the Note 6 a month or two before the Apple iPhone 7, to try and grab that window of opportunity", said Mawston. Additional details of the company's first-quarter performance will come later this month when Samsung holds its earnings call.
Source: Samsung's Galaxy Note 6 might scan your eyes... underwater
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