S7 propels profit Samsung

S7 propels profit Samsung

Tech July 7, 2016 06:33

seoul - Samsung last quarter to grow its profits to its highest level in over two years. Korean technology company benefited This includes the introduction of its new Galaxy S7 smartphones.

Samsung reported Thursday won an operating profit of 8.1 trillion (6.3 billion euros), compared with 6.9 trillion won a year earlier. The profit was significantly higher than analysts predicted on average. Sales were according to preliminary figures by 50 trillion won some 2 percent lower than expected.

Samsung sold last quarter, an estimated 15 million S7 smartphones. Thus the company managed to avoid the weakening of the entire market for smart phones. Analysts say Samsung benefited thereby the lack of competition from Apple's new iPhones.
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