Strong Samsung Galaxy S7 and S7 edge Sales help Samsung to a better than expected first Quarter Profits


Samsung posted a better than expected first quarter earnings yesterday. The reported revenues came in at 49.78 trillon Won ($43.4 billion) against the expected revenues of 49 trillion Won($42.73 billion) which was a 5.7% increase over the same period last year. Operating profits also increased by 12% to 6.68 trillon Won ($5.82 billion)

The first quarter results is believed to be boosted by the better than expected sales of the Galaxy S7 and S7 edge, OLED panels, memory chips and supply of System LSI products built on Samsung's 14nm process. 

Samsung's IM division which comprises of Samsung's Mobile communications and networks business posted a revenue of $24.2 billion for the quarter which is a 6.6% improvement over the Q1 2015. Operating profits stood at $3.39 billion which is an improvement of 42% over the same period in 2015.