14 DAY TRIAL // Samsung has been doing well on the smartphones market, especially after it launched the Galaxy S7 and S7 Edge earlier this year. Financial estimates for the second quarter of this year are out, and it seems that the South Korean giant will record a significant growth in profits. At the same time, Samsung is also expected to see significant sales of the Galaxy Note 7, which is projected to debut soon.
Samsung's financial estimates for the second quarter of this year are out, and they reveal that the smartphone giant is forecast to record operating profits that exceed $6.8 billion, thus surpassing previous market estimates, according to Korea Herald.
The report indicates that second-quarter operating profits will beat market estimates thanks to significant improvements in the IT and mobile communication division and consumer electronics business units. The report specifically mentions the robust sales of the Galaxy S7 and S7 Edge, as well as memory chips. Profit margins increased in the first quarter, reaching 4.8% from 2.7% in the last quarter of 2015.
Samsung is also expected to release the Galaxy Note 7 on August 2
It was to be expected that Samsung would report such high sales of the Galaxy S7, since the company released several special editions of the smartphone, including the Galaxy S7 Edge Injustice Edition.
Samsung is expected to unveil the Galaxy S7 Olympic Edition in the near future, a special edition handset created for the celebration of the Olympics Games to be held in Rio de Janeiro in August this year. The Galaxy Note 7 is also expected to launch on August 2, and specs for the device have been leaking for some days now, revealing that it will surely be worth the wait.
According to another report, Samsung sold more smartphones than Apple in Q4 2015, so it will be interesting to see how its smartphone sales perform in Q3 and Q4, after the company releases the Note 7 and its rival unveils the iPhone 7.