Samsung released its first quarter earnings for 2017 which stood at 9.9 trillion won ($8.7 billion) profit. This represents the highest-ever operating profit for the January to March period for the company and makes Q1 2017 Samsung’s second-best quarter ever. The company had forecasted a profit of 10.1 trillion won, or $8.8 billion earlier, which is very close to the achieved result.
With the Q1 profit at 9.9 trillion won, Samsung’s overall revenue reached 50.55 trillion won or $44.7 billion. Despite, recording the second-best quarter in terms of revenue, Samsung actually saw a decline in profits from its mobile division as compared to those in Q4 2016.
Read:Â Samsung to launch refurbished Galaxy Note 7 in Korea by June-end
The reason cited by the company behind the decreased mobile sales profit is due to a decline in flagship product sales as well price adjustments of last year’s flagship devices, the Galaxy S7 and Galaxy S7 Edge. This, however, got compensated by the robust sales of its mid- to low-end devices, mainly Galaxy A7 (2017), resulting in slightly increased smartphone shipments.
Also, the increased sales in semiconductor and display panel segments saved the day for Samsung, helping it to achieve the highest-ever operating profit for the January to March period.
Read:Â Samsung Galaxy S8+ to take up over 50% share of S8 series sales
Further, outlining its future plans, the Korean tech giant stated that it will ‘look to sustain profitability in the mid- to low-end segment by launching new products and streamlining the lineup’ adding that it strives to launch a new flagship smartphone in the second half which presumably should be the upcoming Galaxy Note 8.
Source: Samsung
Most likely their Q2 profits will smash all this because of that huge S8 series preorders and sales 😀
All thanks to the Popularity of Samsung Galaxy S8 and the overwhelming response of the people to their product!! not just S8 but the Note8 is also in the way, so Samsung is ALL PROFIT AND NO LOSS this year!!
Despite their controversies, corruption claims against the top officials, note 7 disaster and so much bad faith, they have somehow managed to show tremendous fortitude and endurance by surviving it all and finally now, managing the s8. Take a bow
Most likely their Q2 profits will smash all this because of that huge S8 series preorders and sales 😀
All thanks to the Popularity of Samsung Galaxy S8 and the overwhelming response of the people to their product!! not just S8 but the Note8 is also in the way, so Samsung is ALL PROFIT AND NO LOSS this year!!
WOW. I remember after the explosions, it was pretty much being talked everywhere about how Samsung was doomed, and how it will take a long time for them to come back, apparently it was just the opposite. Other struggling OEMs should take a lesson from this.
Despite their controversies, corruption claims against the top officials, note 7 disaster and so much bad faith, they have somehow managed to show tremendous fortitude and endurance by surviving it all and finally now, managing the s8. Take a bow
WOW. I remember after the explosions, it was pretty much being talked everywhere about how Samsung was doomed, and how it will take a long time for them to come back, apparently it was just the opposite. Other struggling OEMs should take a lesson from this.