Early Samsung Galaxy S7 sales exceed expectations
The Samsung Galaxy S7 and S7 Edge have been on sale in global markets for a little while now, giving analysts just enough time to make some early predictions about how they expect the handsets to perform. Their data suggests that the new smartphones have registered healthy sales across the globe so far, boosting hopes of a turnaround in Samsung’s mobile profits.
Market analysts and officials state that sales and pre-orders of the Galaxy S7 range have exceeded previous expectations in the key markets of China, Europe, and India. In Europe, sources are suggesting a 250 percent increase in combined pre-order sales since launch over the Galaxy S6.
In China, the world’s largest smart phone market that has recently started to show signs of saturation and stagnation, Samsung is facing increased competition from lower cost local rivals and had been hit by falling operating profits in the region.
While the Galaxy S7 may not propel Samsung to the top of the Chinese market, the company is currently ranked sixth with a 7.7 percent market share, a touted “double-digit” margin on the Galaxy S7 phones and strong sales are sure to boost the company’s income. Overall, the news is enough bring out a rare optimistic comment from Samsung mobile chief Ko Dong-jin.
“I’ve gained confidence to do well after checking responses from major retailers and holding meetings with carriers in China.” – Samsung’s Ko Dong-jin.
Interestingly, analysts are pinning the Galaxy S7 and S7 Edge’s early success on the inclusion of seemingly more minor features. The reintroduction of the miroSD card slot and water resistance are apparently proving to be hot features, along with the 10 percent price tag cut on the handset in some regions.
Not forgetting that greater smartphone sales also turn into increased business for Samsung’s semiconductor and display divisions, reports about strong early sales of the Galaxy S7 and S7 Edge are sure to be some much needed good news for Samsung’s mobile division.