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Samsung post First-sector income on robust initial sales of Galaxy S7

Samsung Post First-Quarter Profit on Strong Initial Sales of Galaxy S7

Tech giant Samsung Electronics Co Ltd said on Thursday that its first-sector operating income rose 12percent from a yr earlier, propelled through sturdy preliminary income for its flagship Galaxy S7 smartphones.

The South Korean firm also said its “strong overall performance” will keep in April-to-June, hanging agreater positive tone about prospects for its handsets and chips groups no matter extensively weakerdemand for consumer electronics.

Samsung’s cellular department become the top earner for the primary time in almost two years, thanks tohigher-than-expected income of Galaxy S7 devices, in a signal the arena‘s pinnacle smartphone maker has righted itself after years of shrinking profits.

Boasting an stepped forward digicam, waterproofing and microSD garage guide, Galaxy S7 models are on target to set a brand new first-12 months shipments record, boosting hopes the mobile commercial enterprise will publish its first annual income advantage in 3 years.

in the second area, the company expects its stable overall performance to preserve, led by regularearnings within the cell and semiconductor agencies,” Samsung said in a assertion.

Samsung, in a regulatory submitting, said January-March running income become KRW 6.7 trillion ($5.84billion), in comparison with its in advance estimate of KRW 6.6 trillion. revenue rose five.7 percentage to KRW forty nine.eight trillion, as compared with its steerage for KRW forty nine trillion.

profit for the phone department elevated forty two percent from a year earlier to KRW 3.9 trillion, the highest since the second one sector of 2014. Samsung said it expects further sales boom for its Galaxy S7 devices in the 2nd quarter as well as from its mid-to-low tier products.

marketplace researcher TrendForce says combined shipments for flat- and curved-display S7 models willattain 52 million via the yearstop, surpassing the previous document of forty seven million units via the Galaxy S4.

running profit for the chip division fell 6 percent to KRW 2.6 trillion, undercut via rate declines forreminiscence chips stemming from slower call for for products which include private computer systems.

The company said in a separate submitting it will buy again KRW 2 trillion of its own shares in the thirdinstalment of its KRW eleven.three trillion buyback plan.

© Thomson Reuters 2016

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Tags: home amusement, Mobiles, Samsung, Samsung Galaxy S7, tablets, Wearables