Korean company Samsung Electronics has anticipated that the first quarter of the company was robust and is expected to post significantly high earnings. This share of high earnings would be coming mainly from its IT and mobile business.
As per the analysis of industry it is believed that the mobile division of Samsung would have an operating profit of about $ 3 billion USD. However, there are optimists in the industry who expects that the earnings can be as high as $ 3.5-4 billion USD as for first quarter of the company.
The predictions of high operating profit started floating in the market post the announcement of Samsung’s spokesperson who announced that the company’s total operating profit for Q1 would be around $ 5.7 billion USD. These high numbers clearly indicate that the company is expecting a rise of more than 10.37% in profits as compared to 7.49% in Q1 last year. The company has also revealed that its consolidated total sales also increased to $42.3 billion USD which is slightly higher than last year during the same time. The company has sold about 81 million smart phones in the first quarter of the year out of which it is expected that about 10 million units were of Galaxy 7 series.
The company has not revealed the final data yet; however, the industry players claim that the major reason for high profits is the successful launch of Smart Offer Samsung Galaxy S7 and Best Buy S7 Edge. The phone underwent some changes compared to S6 and was a hit among the customers. To some extent the foreign exchange fluctuations also have an impact on the fact sheets of Samsung. However, the official figures are not yet out and hence the industry would have to wait for the exact numbers.
Source: Samsung News