Samsung’s smartphone business has declined over the past couple of years but according to market analysts, the new Samsung Galaxy S7 and Galaxy S7 Edge might be the hero devices the company needed in order to stabilize its business and maintain its market position as the world’s most influential smartphone maker. Reportedly, the Korean tech giant is likely to ship nearly 10 million new flagship phones by the end of the first quarter, and industry analysts have started raising their sales forecast for the Samsung Galaxy S7 in 2016.
Despite the fact that the new Samsung Galaxy S7 series doesn’t introduce a brand new design compared to last year’s models, the new lineup appears to enjoy massive success in various regions of the world, and analysts now suggest that the company will manage to ship nearly 10 million units by the end of the first quarter. This is likely because the new lineup is packed with features and makes little to no compromises. Although it flaunts an enclosed glass-metal design with a non-removable battery, the Samsung Galaxy S7 and Galaxy S7 Edge are water-resistant, very powerful; have excellent cameras, expandable storage, as well as wireless and fast charging capabilities. Furthermore, another reason why the Samsung Galaxy S7 might have been so successful is because, in certain regions, the flagship has been paired with a free Samsung Gear VR headset on pre-order terms.
Korea Investment & Securities’ Jay Yoo predicts that the company is likely to ship 9.5 million Galaxy S7 units in the first quarter, up from the previous estimate of 7 million. HDC Asset Management fund manager, Park Jung-hoon, also adds that the sell-in numbers “have been pretty good”, leading to analysts raising their sales forecasts for the new flagship in 2016. Industry analysts are also of the opinion that Samsung’s decision to release the Galaxy S7 one month earlier compared to the Galaxy S6 last year has paid off, as it gave the company an advantage over Apple, who only recently took the veil off the new iPhone SE. Samsung’s shares rose by 2.4% today, reaching an 18-week high.