Samsung seemed primed to dominate the mobile markets in 2012, with the launch of their flagship S3 smartphone. The S3 kickstarted a healthy market run, with five successive quarters of profits.
Unfortunately, Samsung weren’t able to keep their winning streak going, as each successive generation of Samsung Galaxies failed to capture their customers’ imaginations, leading to seven quarters of reported losses.
This decline seems to be turning around, as the South Korean electronics manufacturer reported a profit of $5.8 billion for 2016’s first quarter – a 12% increase over last year’s first quarter. Samsung even managed to exceed analysts’ predictions, which is a great sign for the future of Samsung’s mobile department.
Samsung’s turnaround couldn’t have come at a better time, with the company reporting an operating profit of $3.89 trillion – nearly a 42% profit from 2015’s first quarter, and the highest for Samsung since 2014.
Although the manufacturer doesn’t release specific figures, it’s estimated that Samsung shipped 9.5 million Galaxy S7’s this quarter, surpassing the expectations of many financial speculators. Samsung’s chip division is also reportedly in the black, with a net profit of $2.63 trillion won, despite being a 10% decline from 2015’s first-quarter chip sales.
Samsung is predicting healthy sales for the second quarter, as well, due to the new Samsung Galaxy S7 and S7 Edge.
Considering that most smartphone manufacturers have reported a decline in sales, this quarter, these figures suggest that Samsung is stealing back the hearts, minds, and imaginations of savvy smartphone lovers.