Samsung increases profit by 10% in Q1 2016, Galaxy Note 6 launch could come sooner than expected
Samsung has released their earnings guidance report for Q1 2016 today. The company sure knows how to navigate a down period, with the company showing some very solid growth in the quarter. They generated $42.3 billion in revenue this quarter, and $5.7 billion of that is profit. That’s an increase of 10% year-on-year.
Samsung likely expects things to improve as time moves on. The Samsung Galaxy S7 and S7 Edge are now widely available in all their key markets, and a strong advertising campaign will ensure folks know about them.
While the company hasn’t yet detailed the breakdown of which division did what, we know the mobile division is finally seen as anything other than a disappointment. The company is likely to attribute their success to a more carefully judged market than years past.
They dropped the ball on gauging demand for their 4 flagships last year, but this year they’ve taken Apple’s approach of launching devices in 2 different size brackets to offer up more choice earlier in the year. They also correctly identified that the Galaxy S7 Edge would be the more popular model.
Where to now? Samsung’s sure to fill in other market segments with affordable phones and tablets, though analysts suggest they’ll look to improve performance for their second handset — the Galaxy Note 6 — by launching it a month earlier than expected this year. We could see the device as soon as July. For now, though, Samsung is sure to have more details about their performance when they release their full report later this month.
[via Samsung]