Samsung may report record-high Q4/2016 earnings despite Galaxy Note 7 fiasco

Samsung is now the world’s largest smartphone manufacturer and Galaxy series of smartphones are large contributor to Samsung’s current status. Last year, Samsung Galaxy Note 7 failed to live up with expectations, leading to a permanent production cease worldwide. However, despite Galaxy Note 7 incident, Samsung is expected to report record-high and forecast-beating Q4/2016 earnings. According to tech experts, this may be the highest profits Samsung has recorded in the past three years.

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In Q3/2016, Samsung failed to impress tech experts due to the recalling of the Galaxy Note 7, however, tech experts say that Samsung seems to bounce back in Q4/2016 thanks to its robust sales in its chip business. Accordingly, the South Korean smartphone Company has been projected to generate 8.7 trillion won in revenues in Q4/2016, a 68 percent increase compared to the previous quarter. According to sources, the South Korean smartphone Company may report a record income for 2016, at around 38.6 trillion won, the highest profit ever recorded since 2014. Previously, Samsung permanently ceased production of Galaxy Note 7 following a number of reports of catching fire. This could be Samsung’s biggest failure, but chances the incident did not affect Samsung’s business earnings in Q4/2016.

The South Korea-based company has been focusing on semiconductors and displays in recent years, and it appears that their effort has been paid off. Samsung is expected to launch the Galaxy S8 this year with tons of new features. According to rumors, Samsung Galaxy S8 will not be unveiled at this year’s Mobile World Congress as previously expected. Instead, Samsung will introduce the device at its special event in April. The new device might continue to feature metal and glass design, something Samsung has been working on over the past couple of years. Samsung is believed to launch two variants of Galaxy S8 this year: 5.7-inches and 6.2-inches and the South Korean smartphone Company might switch to 4K display. Many found these rumors to be somewhat plausible, seeing how Samsung introduced a QHD display along with Galaxy S6 in 2015.

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Category Android, News, Samsung

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