Samsung sees profits grow thanks to the success of the Galaxy S7

Samsung posted a higher turnover and profit in the past quarter than in the same quarter a year ago. According to the manufacturer, the figures are partly due to the success of the Galaxy S7 and S7 edge. Half of the devices sold would be an edge model.

The turnover of the smartphone division amounted to 26.56 trillion won in the past quarter, or 21.3 billion euros. A year ago, that was 25.06 trillion in the same quarter. The operating profit almost doubled compared to last year, Samsung was able to add 4.32 trillion won, converted 3.7 billion euros. In 2015, it was 2.76 trillion won in the same quarter. Although the growth in sales is not great, the numbers are remarkably positive in a market where smartphone sales are declining. Earlier this week, Apple recorded another decline in iPhone sales.

Samsung says the numbers are a result of the success of the Galaxy S7 and S7 edge. Unlike Apple, the manufacturer does not disclose how many copies of its smartphones it sells. Samsung does state that more than half of the S7 models sold are an edge version. Also, the sale of mid- and low-end models such as the Galaxy A and J would be profitable.

Samsung also expects to sell many S7 smartphones in the second half of the year, and ‘a new flagship’ should also provide good results in the coming quarter. Samsung does not mention the device by name, but it is almost certain that the South Korean manufacturer is referring to the Galaxy Note 7, which will be presented on August 2. Samsung does state that the coming quarter will be challenging due to competition from other smartphone manufacturers. The Koreans may be referring to the release of the iPhone 7, which is expected in September.

The other divisions of Samsung Electronics also achieved positive results. As a whole, the group had quarterly sales of 50.94 trillion won, 2.4 trillion more than in the same quarter last year. Operating profit came in at 8.14 trillion won, up 1.24 trillion from the 2015 quarter. Profit from the smartphone division is more than half of the company’s total profit.

Samsug Galaxy S6 edge, S7 edge and S6 edge+