Early reports indicates an advance in sales of the new Galaxy S7 smartphone, which appears to show that Samsung's flagship mobile business is surfacing from its two year decline.
Crushed by Apple's products and Huawei's undercuts in cheaper devices by the Chinese competitors, Samsung's smartphone showed a decline in its profits and global market share that kept South Korea's most valuable company in sapped momentum.
However on Wednesday, the company's broker indicated an improvement in its first quarter forecasts putting off the world's top smartphone maker to a good start of its premium phones for the Galaxy S7 and Galaxy S7 Edge that were released earlier this month.
Industry analyst at Korea Investment & Securities Jay Yoo explained that in the first quarter Samsung managed to ship 9.5 million of the Galaxy S7 phones, showing a significant increase than the initial estimate of 7 million.
HDC Asset Management fund manager Park Jung-hoon stated, "It looks like the sell-in numbers have been pretty good and analysts are raising their sales forecasts for the S7 this year. The firm is pushing up volume in the mid-to-low tier to protect market share. Starting S7 sales about a month earlier than the S6 to take advantage of Apple not having new products out yet was also a good move."
Vice Chairman Jay Y. Lee showed importance to put off Samsung's mobile business back on track in stretch to his ability to manage the extending electronics into fashion business.
On Wednesday, the 18 week high-stake to Samsung's shares increased as much as 2.4%. During the middle of January, the stock went up more than a fifth, showing a 22% crossover in the past three months.
The critically acclaimed of both Galaxy S7 models gained recognition for their glossy design and a comeback feature to the storage support of microSD and water resistance. Although analysts suggested that the phones offered only gradual increase in additional upgrades that doesn't make it any different to the previous models.
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