In march this year, Samsung officially unveiled its 2016 flagship smartphone, the Galaxy S7. When unveiled, the Samsung Galaxy S7 was said to be the next generation smartphone and its reception on the market was very good. With the good reception, the Galaxy S7 was expected to do well in terms of sales.
When the Galaxy S7 hit retail stores, it did not disappoint as demand was high and this pushed sales above the roof. Samsung even expected sales of the S7 to reach 25 million units by the end of June. This is a huge figure for any manufacturer and shows how well the phone was performing on the market.
Just to show you how the Galaxy S7 is performing, Samsung has released its earnings guidance for Q2 2016 which was the first full quarter of the Galaxy S7 and S7 edge sales. During this period (between April and June), Samsung expects its profit to reach $7 billion. This will be a rise of 41% in profit from the same period last year.
If Samsung achieves the results it is predicting, this will be its best quarter since early 2014. This is exactly what the company needs as competition is tough on the smartphone market and most people have been saying that Samsung has been losing a lot as new manufacturers come into the market. These figures show that Samsung is still a powerful force in the smartphone market that isn’t slowing down as some people had expected.
We expect the final figures from Samsung later this month and I don’t expect them to be far off from the ones it is forecasting.
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