Samsung on Thursday announced earnings guidance for the first quarter of 2016 that seems to suggest the South Korean technology giant got its mojo back.
The company estimates a consolidated operating profit of roughly 6.6 trillion won ($5.7 billion) for the three-month period ending in March, good for a 10.4 percent increase from the 5.98 trillion won during the same quarter a year earlier. Revenue for the quarter is also up, likely by four percent.
Samsung no doubt owes the shift in outlook to its latest smartphones, the Galaxy S7 and the curved-screened Galaxy S7 Edge.
The handsets arrived on the market on March 11, nearly a month earlier than the Galaxy S6 and S6 Edge did a year ago. This gives Samsung even more time on the market (and also happens to coincide with tax refund season in the US).
As Bloomberg notes, the phones are also a bit cheaper with the marquee Galaxy S7 Edge being sold for as much as eight percent less than last year’s model. The inclusion of features like waterproofing and the return of the microSD card slot certainly didn’t hurt, either.
It’s estimated that the world’s largest smartphone manufacturer will sell around nine million Galaxy S7 devices during its first month on the market. If the figures pan out, that’d be more than three times the number of S6 models Samsung sold in its first month in 2015.
Lead image courtesy PC-Tablet