AfterDawn: Tech news

Samsung reports strong quarter, thanks to Galaxy S7

Written by Matti Vähäkainu @ 28 Apr 2016 12:28

Samsung reports strong quarter, thanks to Galaxy S7

Samsung has revealed its quarterly earnings for the first three months in 2016. The results are impressive as the company gains momentum with Galaxy S7.
Samsung's mobile business revenue increased by 8 percent but the big impact is seen in the profits. The company reported an impressive 42 percent growth in net profits in the three month period compared to year before.

The new strategy with Galaxy S7 and more streamlined portfolio of middle and entry-level devices has paid off. The flagship has been received well nearly universally and the orders have blown the predecessor out of the water.

Increasing profits are not given even for giants like Samsung and Apple as we know from the quarterly results from Cupertino. Apple's iPhone sales has dropped as have the company's profits.

Estimates are that still a fairly new Galaxy S7 will keep Samsung steady through the summer while Apple will be reporting decline in sales probably until Q4.

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