Samsung has announced its latest financial results which cover their first quarter of 2016 to the 31st of March 2016, it looks like the Galaxy S7 and S7 Edge have improved things for company.
Samsung posted revenue of KRW 49.78 trillion ($43.8 billion) this is up some 5.7 percent on the same period last year.
The company had an operating profit of KRW 6.68 trillion ($5.58 billion) this is up some 12 percent on the previous year.
Samsung has said that their overall first quarter earnings growth was lead by its new Galaxy S7 and S7 Edge smartphones, the handsets were launched earlier than normal this year.
The IT & Mobile Communications (IM) Division saw a substantial earnings improvement both YoY and QoQ mainly driven by the early launch of Galaxy S7 and its strong sales and improved cost efficiency through the streamlining of mid-to-low-end smartphone lineups. Although the company had a one-time royalty settlement expense in the quarter, the impact on operating profit was equivalent to less than 1 percent of IM revenue.
Samsung has said that it is expecting performance to continue in the second quarter of 2016, this will be led by their Mobile and Seminconductor business.
It looks like the new Samsung Galaxy S7 has helped the company increase its profits over the previous year, the handset appears to be more popular than last years model and comes with a range of features which have enticed Android fans to buy the handset.
Source Samsung
Latest Geeky Gadgets Deals
Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn more.
