Samsung predicts strong Q1 2016 earnings on back of Galaxy S7 successBy Robin-Leigh Chetty 7 April 2016 | Categories: news
Samsung has kicked off its 2016 in high gear. On the back of a strong showing at MWC 16 in February, where the Galaxy S7 and S7 edge (review) impressed, the company's mobile side of the business appears to be booming. Add to this a continued push on the virtual reality front, and the South Korean manufacturer's first quarter is shaping up to be a strong one. To that end, that the company has already outlined its predictions for Q1 2016, ahead of the official results being detailed.
According to Samsung's earnings guidance, the first three months of this year could yield an estimated 6.6 trillion won in operating profit, as well as 49 trillion won in revenue. If these estimates prove correct, this would result in an increase of 10% and 4% respectively compared to last year's results, according to Samsung. As such, it would also be the third successive quarter where the South Korean manufacturer posted positive year-on-year results.
As mentioned, these projected earnings would be the direct influence of Samsung's new Galaxy S flagships. The devices have already received critical acclaim. In fact, Bloomberg reported yesterday that an estimated 9 million units of the Galaxy S7 have been shipped during the first month of its release, which triples the same mark set by the Galaxy S6 (review) over the same time period.
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