Analysts are now predicting that Samsung might post better-than-expected earnings for the first quarter of 2016 largely aided by the stellar performance of the Galaxy S7 and the Galaxy S7 edge. First quarter operating profits for the Korean giant are expected to clock in at 6 trillion won or $5.14 billion, a nominal improvement over the 5.98 trillion won operating profit posted during the same period last year.
It was previously predicted that Samsung’s operating profit for Q1 2016 could drop to as low as the 4 trillion won mark owing to increased competition in the chip and home appliance markets. Brokerage houses are now making bullish estimates taking into account the robust sales performance of the Galaxy S7 across the globe. Combined shipments of the Galaxy S7 and the Galaxy S7 edge are believed to have crossed the 10 million market in just a couple of weeks following the release of the new flagships, the previously flagships needed over a month to reach the same level. Samsung will provide its earnings guidance for the first quarter of 2016 on April 7.
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