Irrespective of how dangling the position of Samsung in the marketplace might be, it does know how to make a profitable month. Samsung clocked a golden month with generated earnings as big as $11 billion (via Bloomberg).
Samsung has been facing hard winds from every possible direction, with Apple marching ahead with its aggressive foray in the west and Xiaomi luring a major proportion of users with its comparatively cheap, yet reliable smartphones in Samsung’s Asian strongholds
Samsung’s massive profit report comes just after it announced the next iteration to its Galaxy S series, namely Galaxy S6 and galaxy S6 edge. Samsung has much of its hopes on new S6 devices and, undoubtedly, will use them to fight against Apple, which is currently valued at $736 billion- a $12 billion decline. With this $11 earning, Samsung has reached to a valuation point of $191.19 billion.
Lee Seung Woo, an analyst at IBK Securities Co., said-
There’s a lot of buzz about the new S6 phones and consumer demand. The pre-order demand for S6 devices is a lot higher than its predecessor S5, and the phone will win back many consumers.
Samsung is actively involved in developing its newly announced payment system and is looking forward to launch it as a counter to the Apple’s payment system, Apple Pay. Apple and Samsung both staged similar figure in terms of the sales recorded for last quarter.
Samsung experienced a similar boom last year when it introduced Galaxy S5. On the other hand, Samsung has started to loose throne in some of its biggest markets. Micromax in india and Xiaomi in China has already slumped Samsung’s position and continues to grope in more and more users.