South Korean technology company Samsung has had an excellent first quarter of 2016, mainly owing to the launch of the new Samsung Galaxy S7 and Galaxy S7 Edge.
Better than expected
The new smartphones’ better than expected sales pushed Samsung’s turnover up 4 % to 49 trillion won (37 trillion euro), while operational profit spiked 10 % to 6.6 trillion won (5 billion euro). This meant Samsung outperformed analysts’ expectations, which stood at a 5.6 trillion won profit (4.3 billion euro).
Samsung revealed the new edition of its Galaxy smartphone in February and actually launched it last month. According to its own calculations, it has already sold more than 10 million devices, well above the previous forecast at 7 million.
