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Galaxy 7 Boosts Samsung Result

Samsung has posted a better-than expected first-quarter profit, following the early release of new Galaxy S7 smartphones, which gave it a head-start on Apple and Chinese rivals.

Sales of all products totalled 49 trillion won (A$55 billion) in the quarter, Samsung said, compared with the 48.8 trillion won analysts expected.

Samsung is continuing to reduce the number of phones in its line-up as it tries to cut spending and focus on competitive devices.

Total smartphone shipments for the first three months were estimated at 78 million, down from 82 million during the peak holiday quarter

The company warned that its next two quarters will be weakened by economic issues and a softer IT market.

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