Samsung has reported positive results for the first quarter of 2016. The company says the Galaxy S7 and S7 Edge lead the way in the increase it had during the impressive period.
In the first quarter, Samsung managed to increase their total operating profits to $5.84 billion, which is 12% higher than the same period from last year. Samsung’s flagship smartphones like the Galaxy S7 and S7 Edge provided a big boost for the company. The increase in sales could have been due to the earlier release, avoiding the competition from rivals that came later.
Samsung also saw an increase in total revenue during the period, which was reported to be 49.78 trillion, up 5.7% from this time last year. Samsung’s ability to match the demand this time around with its flagship Edge variant was a substantial contribution to this increase. The only area where Samsung experienced trouble was in its display panel business. Samsung saw a downward slope of 0.27 trillion in operating profits for this sector. However, the company has high hopes for the future thanks to Apple, who has already reached out to Samsung for OLED panels.
Samsung hopes to keep the momentum going in the second quarter. The current flagships are said to be selling well, and Samsung’s mid-range lineups and chip-making business should provide it the extra boost.
Source: Samsung
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