A Samsung Galaxy Note 7 smartphone is displayed during a launch event for the Samsung Galaxy Note 7 at the Hammerstein Ballroom, August 2, 2016 in New York City. (Photo : GettyImages/Drew Angerer)
Samsung, South Korean tech giant has stepped in with the new smart phone release Galaxy Note 7 which is pulling the customers towards it. Galaxy Note 7, after hitting the world market has turned out to be Samsung's fortune to steal the customers from its rivalry companies in the smart phone world.
Galaxy Note 7 has a huge demand currently running. The phone went on sales on August 19, in Unites states and South Korea. According to Fortune, Samsung's Galaxy Note 7 demand has hit more than the expected estimates and causing supply chain constraints globally. The ultimate featured phone is forcing Samsung to increase its production of this premium device. Samsung should keep its step firm by increasing its production and keep the competitive companies away from stealing the smart phone profit world.
"As pre-order results for the Galaxy Note 7 have far exceeded our estimates, its release date in some markets has been adjusted," Samsung told Reuters in a statement.
The world's best smart phone maker is all set to gain the momentum sales in the market and also ensuring its profit and expects to have better sales in the second half as the rival company Apple is prepared to launch its new device.
According to Reuters, production problems for the curved display of Galaxy S6 edge phone effected the sales last year. Samsung informs that the company will boost its production at the secret location where Notes are made, and aimed to meet the market demand.
Nomura analyst C.W. Chung said "The party got more visitors than Samsung expected, so they just need to put more food out," Also, said that supply situation was not a major risk as Samsung made key parts such as displays and chips in-house. Samsung is ready to sell as many as 15 million Galaxy Note 7 phones this year when compared to the 9 million Galaxy Note 5 phones last year, as informed by C.W. Chung.
IBK Asset Management fund manager Km Hyun-su said "There could be temporary issue but Samsung has almost never had prolonged production misses," he also added "It's a problem from selling well, so I don't think there is a need to worry too much."
As per Fortune, KTB Asset Management fund manager Lee Jin-woo said. "Whatever the company gets out of the Note 7 will be a bonus factor, since what the market has been betting on for the second half is a pickup in earnings from the display and semiconductor businesses."
"Considering Samsung's track record I think the supply problem will be resolved quickly," he added.
Samsung's Galaxy Note 7 stole world's smart phone market quickly. Watch the video below.
