Samsung Q1 2016 financial results reveal higher profits and revenue
Following LG's recent Q1 2016 financial report, Samsung has now made its own bottom line public. Accordingly, the South Korean giant made almost 50 trillion Won (~38.43 billion Euros) this past quarter compared to 47.12 trillion Won in Q1 2015. Net profits are also up from 4.63 trillion Won the same quarter last year to 5.25 trillion Won (4.05 billion Euros). Sales and profits were again driven by Samsung's IT and Mobile Communications Division (IM) and its smartphones.
Apparently, the global advertising efforts for the new flagship Galaxy S7 and Galaxy S7 Edge smartphones have been paying off. According to Samsung's own numbers, profits from its IM division rose from 2.74 trillion Won in Q1 2015 to 3.89 trillion Won in Q1 2016. Strangely, however, Samsung did not make public exact sales figures for its smartphones unlike in LG's latest financial figures. Other Samsung divisions like its Consumer Electronics (CE) and Device Solutions (DS) branches showed decent performances. These include products like TVs, household appliances, displays, and semiconductor production.
The manufacturer's Large-scale Integration (LSI) division responsible for SoC and Exynos development posted lower-than-expected numbers. Revenue from DRAM modules and LCDs have also been performing just averagely at best.
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