Shares of Samsung (KS:005930) Electronics (LON:0593xq) are expected to grow in the coming trading sessions due to the overall positive review and the upgraded specs of its upcoming Samsung Galaxy S9 series.
Samsung unveiled its latest flagship smartphone during an event in Barcelona over the weekend. The latest Galaxy phone has been revealed to have been installed with upgraded camera features, display, and other functions as well which is set to compete with rival company Apple's (NASDAQ:AAPL) latest release which is the iPhone X.
Stock And Previous Earnings
Samsung’s stock, which has grown by more than 40% last year last rallied by more than 5% last month after the company announced a robust and growing demand for its memory chips. Samsung also announced that its earnings were boosted for the sale of high-end displays to Apple which was used for their iPhone X. Samsung then stated that it would split its stock in able to enhance value for shareholders.
Net income of the company then amounted to $111.2 billion or 12 trillion won for the three months that ended in December. Samsung also stated that its operating profit came in at 15.15 trillion won on 66 trillion won worth of sales.
According to Samsung, its profits were cut by the higher won by more than 600 billion won. Earnings of the company are also expected to be impacted negatively in the coming months, which is also an off season due to the fluctuations taking place globally.
S9 Sales
While some have pointed out the lesser additional features the Galaxy 9 has compared to 2017 released S8 line, Samsung expects the sales of its Galaxy S9 series to outperform its previous version.
During the Mobile World Congress, Samsung mobile division chief executive officer DJ Koh stated that the Galaxy S9 is expected to surpass the sales of the Galaxy S8 with the upgraded features of the latest device being the leverage for higher sales.
The Galaxy S9 will be released at a much earlier period compared to the Galaxy S8 as they plan to boost the sales with a series of other marketing strategies to drive up demand and the overall numbers according to Koh.