Samsung is going to provide the official earnings guidance for the first quarter of this year next month but analysts are of the view that better days are ahead for the company’s mobile business that has been under increasing pressure over the last couple of years. Leading the charge for its mobile business are the new flagship handsets, the Galaxy S7 and Galaxy S7 Edge, which appear to be doing very well in the global smartphone market.
Samsung has seen its mobile business bleed profit and market share as it came under pressure from Apple in the high-end segment and from Chinese manufacturers in the mid-range and low-end segment of the market.
Several brokerages have now upgraded their first quarter forecasts for Samsung as they believe that the strong start exhibited by the new flagships will bring in greater than expected operating profits for the company during its first quarter of the year.
Investor confidence is being reflected in Samsung’s share prices which have now reached an 18-week high, the surge follows a 22 percent decline over the past three months.
It’s estimated that Samsung has sold more than ten million units of the Galaxy S7 and Galaxy S7 Edge combined during the first quarter, coupled with sales of its other handsets, this might turn out to be a really good quarter for the mobile business of a company that despite its troubles remains the largest smartphone vendor in the world.
Filed in . Read more about Galaxy S7, Galaxy S7 Edge and Samsung. Source: reuters