Today, Samsung Electronics has announced its financial report for Q1 2017, which looks pretty impressive. According to the report, the company has gained a profit of KRW 50.55 trillion ($8.7 billion) across all of its businesses. However, revenues earned from its smartphone division have fallen compared to those in Q4 2016 due to a decrease in sales of flagship devices. So even though Samsung sold more phones, it failed to earn enough money from them.
The company is expecting to generate more profit from the recently launched Galaxy S8 and Galaxy S8 Plus. Prior to the launch of these phones, Samsung cut down the prices of the Galaxy S7 as a marketing strategy, which didn't work out that well. On the other hand, sales of mid-range devices have increased, which in turn led to overall device shipment growth.
Nonetheless, the Q1 2017 still proved to be the second-best quarter for Samsung ever, in terms of profit earned. The main reason behind it is the increased sales in the semiconductor and display departments. Anyway, the company was almost able to reach their predicted target of $8.8 billion profit.
Another significant take away from this report is that the Korean electronics giant has promised to introduce a new flagship device in the second half of 2017. While Samsung has not revealed which device it plans to launch, it is most likely to be the much-anticipated Galaxy Note 8.
If we look at the company's past patterns, it launches the Galaxy S devices around March and Galaxy Note devices in fall.
Earlier today, we told you about the concept render of Samsung Galaxy Note 8, which speculates that the phablet is going to ship with dual camera setup on both front and rear.