Samsung expects record profit in first quarter
- Author: Essie Rivera Apr 23, 2017,
Apr 23, 2017, 0:53
That overshadowed Samsung reporting quarterly profit of almost $9 billion - its highest in more than three years - and the start of pre-orders in South Korea for its newest flagship smartphone.
Profits are expected to have increased by a very big 48% and the company says the profit for Q1 2017 was likely $8.8 billion, or 9.9 trillion won.
The folks at SamsungVN have obtained alleged images of the refurbished Galaxy Note7 device that has a model number of SM-N935.
It was about two months ago that one of the first rumors began circulating that Samsung would reintroduce the Galaxy Note7 to the market as a refurbished device.
The South Korean OEM also expects to maximize its Q1 2016 sales from 49.78 trillion won, (approximately $44 billion) in 2016, to 50 trillion won (approximately $44.2 billion) in Q1 2017. Samsung stock rose 14 per cent in January-March, its strongest gain since the first quarter of 2012.
Profits are expected to be even high in the April-June period due to the launch of the Samsung Galaxy S8, on April 21st.
Samsung did not announce the performance of each business division. Unlike the Galaxy S5 2017 that retails around the same price, the Galaxy C7 Pro is missing out on key Samsung takeaways like Always-on display, IP68 certification and Samsung Pay support. But that might not be such a bad sign, considering the Galaxy S7 launched in Q1 past year and the Galaxy S8 isn't going on sale until later this month - not to mention the fact that Samsung doesn't have a new Galaxy Note on sale right now. Previously, the smartphone business was the company's main contributor. The most important change, however, is that the original 3,500 mAh battery - the source of the Note 7's tendency to burst into flames - has been replaced with a 3,200 mAh version.
Only 14 percent of Samsung phone owners expressed doubts about safety of the company's smartphones, specifically the current flagship Galaxy S8.