Galaxy S7 sales set to earn Samsung the best profit in two years
Samsung has today published its earnings guidance for Q2 of 2016. Before we delve into the details, it’s important to bear in mind that these figures are predictions designed to help potential investors, and that the final audited results will not be published until later this month. Now let’s move onto the statistics. At first glance, it quickly becomes apparent that the second-quarter operating profit is up an astonishing 17.4% from this time last year, which likely has something to do with record-breaking Galaxy S7 and Galaxy S7 edge sales.
As it stands, the South Korean company has sold an estimated 26-million units of its flagship handsets. The success of the devices contributed massively to the firm reporting an eye-watering $7 billion in operating profits for the second-quarter alone, which earns this three month period (March-June) the title of the manufacturer’s best quarter in two years, with a total amount of sales from all industries tallying in at $43.2 billion. It’s believed that the mobile industry accounted for around 49% of Samsung’s net profit; meaning smartphones sales managed to generate around $3.5 billion in profitable revenue.
With global smartphone sales slowing down, will Samsung be able to maintain this momentum? Only time will tell, but with the upcoming release of the Galaxy Note 7 right around the corner, we expect demand to be at an all-time-high. That is, of course, unless it decides to do away with a microSD slot and not bring back the beloved IR blaster.Join the Discussion