Samsung Posts Highest Profit in Q1 Despite Declining Smartphone Profitability

The tech giant, Samsung has just revealed its quarterly report that ended on March 31. According to which, Samsung Posts Highest Profit in Q1 Despite Declining Smartphone Profitability. The company has generated 50.55 trillion won or around $45 billion in revenue. No doubt, it is Samsung’s highest profit ever.

Samsung Posts Highest Profit in Q1 Despite Declining Smartphone Profitability

According to Samsung, operating profit increased by 48 percent as compared to 2016. Moreover, the profit stood at 9.9 trillion won (around $8.8 billion). This figure make this quarter Samsung’s most profitable first quarter in its history. The company also managed to increase its net profit by 46 percent when compared with the same period a year ago.

We all know last year, Samsung has to suffered a lot due to its Note 7 incident. Moreover, according to IDC, Samsung’s smartphone shipments do not show any improvement this year. Although, Samsung’s mobile division declined, but the company achieved an operating profit of 2.07 trillion won (around $3.4 billion), which is down 47 percent from the year before. But still, company get most profitable first quarter in its history.

For More Details Also Read: Worldwide Smartphone Shipments up 4.3% in Q1 2017-IDC

Samsung’s operating profit increased by 48 percent as compared to 2016

Recently introduced,  Galaxy S8 and S8 Plus are selling great in South Korea, the US, and other countries around the world. Surely the sale of these smartphones has put a great contribution to achieve this milestone. Moreover, Samsung is also planning to launch some low-priced and mid-range smartphone this year.

After the launch of Galaxy S8 and S8 Plus, company is more excited to launch its Note 8. After Note 7 fiasco, the successful launch of Note 8 will help Samsung to get back its mobile division decline. Not only this, company is also planning to launch refurbished Note 7 again. Here is what Samsung has announced about the re-launch of Note 7.

The objective of introducing refurbished devices is solely to reduce and minimize any environmental impact. The product details including the name, technical specification and price range will be announced when the device is available. Samsung will not be offering refurbished Galaxy Note 7 devices for rent or sale in the US.

Also See: Galaxy Note 7 is Back-Samsung Confirms to Start Selling Refurbished Devices