While the smartphone market is going down, Samsung appears to be one of the few companies still going up, and it appears to be largely thanks to the debut of its new Galaxy S7.
Samsung recently announced its quarterly earnings – for the quarter ending in June of this year – of about $7 billion, according to The Wall Street Journal, which would mark a 17-percent increase for the company.
That’s Samsung’s biggest quarterly increase since early 2014, when the smartphone market was still booming and products were flying off the shelf left and right.
Samsung’s results are in sharp contrast to Apple’s, which recently reported its first quarterly decline in its smartphone market in 13 years, according to The Wall Street Journal.
The compare/contrast argument between Samsung and Apple seems like it will do nothing to stave off the continual decline of the smartphone market or the critics of Apple, as the “bells and whistles” approach Apple branded products typically employ no longer seems to be catching on with consumers who may value cost savings above anything else.
The problem may be that Apple has priced itself way above the current market for smartphones, while cheaper phones that offer many of the same bells and whistles, or at least similar attributes, are selling faster and at a fraction of the cost.
Samsung is not yet spilling the beans on what exactly powered its quarterly success, but many experts are chalking it up to the Galaxy S7, which it introduced in March.
The Galaxy S7 is water resistant, sleeker than the iPhone and comes with an expandable memory.