The gloomy days for Samsung are now finally over. After the Note 7 fiasco, Samsung is now ready to reap in the profits of its hard work. Samsung has estimated that its profit in the first quarter would be 50 percent more than what it earned in the previous year around the same time.
As per Samsung, it is expecting overall operating profit to be somewhere between 9.9 trillion won against 6.68 trillion won a year ago. The sales could be around 50 trillion won up from 49.78 trillion. The Note 7 debacle had cost Samsung around $17 billion loss in sales. Moreover, Samsung also lost being the leader in the global smartphone market with Apple stealing the show with the successful launch of iPhone 7.
The news of the mammoth increase in company’s overall operating profit for quarter one comes a week after the launch of the flagship phones, S8 and S8 plus. The company now is expecting to not only make up for the losses but regain the leadership position also. It is quite interesting to note that the profits in quarter one are not because of the sales of Samsung Galaxy S8 which begins from April 21 but because of its components business.