Samsungs profit jumps 42% on high sales Galaxy S7, S7 Edge
Samsungs first quarter profit rose significantly with the sale of their latest flagship devices Galaxy S7, S7 Edge
South Korean multinational conglomerate company Samsung Electronics has announced its earnings for the first quarter of 2016 and their profit rose significantly with the sale of their latest flagship devices Galaxy S7, S7 Edge.
Samsung stated that the profit growth was due to early launch and successful sales of the well-received Galaxy S7 and S7 Edge smartphones.
The company's mobile division witnessed a 42% jump in operating profit.
The news of rise in profit for Samsung comes at a time when its rival Apple just posted its first-ever iPhone sales decline in 13 years.
Apple's revenue declined around the globe, including in China, which had been the major engine of growth for the company.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.