Samsung may be in the green again after sales of its Galaxy S7 and Galaxy S7 Edge are 20 per cent higher than last year’s devices, proving the tech company’s forecast for strong financial results in the upcoming quarter may be accurate.
The company reported unexpectedly upbeat quarterly predictions earlier in the week, expecting to report consolidated sales of about 49 trillion won and operating profit of about 6.6 trillion won in the first quarter of 2016. It did not cite a specific reason for what fueled its strong prediction.
Now a report from analyst firm Counterpoint Research suggests that the first month of sales for the Galaxy S7 series are 20 percent higher than its predecessor the Galaxy S6, a likely reason for the company’s Q1 2016 predictions.
Counterpoint conducted its research across 40 markets which shows that Samsung is seeing up to 50 percent higher sales with its Galaxy S7 series versus last year’s Galaxy S6 models in some parts of the world, the firm claimed.
In the US, the firm estimates that sales are up 30 per cent, in Western Europe that figure is 20 per cent, and 10 percent in China.
It estimates that Samsung has shipped 10 million Galaxy S7 devices worldwide thus far - 25 per cent higher than it estimates for the Galaxy S6 last year after its first month.