Samsung Electronics Co. will likely sell a lot of Galaxy S6 handsets in 2015, if analysts are to be believed. Yearly sales projections for the South Korean manufacturer have been increased as presale demand for the new flagship indicates the Galaxy S6 will fare well on the market once it’s released April 10.
Samsung is expected to sell 46 million Galaxy S6 units in 2015, according to Citibank analyst Henry H. Kim. The new projection is a 21 percent increase over the 38 million unit sales analysts predicted leading into 2015. Kim’s projections don’t include possible sales figures for the more expensive Galaxy S6 Edge.
Samsung’s stock rose 3.7 percent, to 1,474,000 won ($1,302), in trading in Seoul following the prediction news Wednesday, according to Bloomberg. The manufacturer hasn’t seen stock prices this high since November 2013. Overall, Samsung’s stock has risen 8.6 percent since it announced the Galaxy S6 and the curved-display Galaxy S6 Edge smartphone March 1.
Samsung is expected to fare well in upcoming first- and second-quarter earnings reports, likely reporting a 5.5 trillion won operating profit in the quarter ending in March and a 7.7 trillion won profit for the quarter ending in June, Eugene Investment & Securities Co. equity strategist Park Seok Hyun told Bloomberg.
Kim said Samsung might see a 1 percent decline in operating profit during the March quarter due to the Galaxy S6 and Galaxy S6 Edge not yet being released. The decline is typical for this time of year. However, once the smartphones are on the market, Samsung may see a 39 percent profit increase during the June quarter.
Samsung claims that the Galaxy S6 and Galaxy S6 Edge have garnered 20 million preorders since the devices were announced, with 15 million preorders registered for the Galaxy S6 and 5 million for the Galaxy S6 Edge, according to the Korea Times. Additionally, Samsung is expected to ramp up its production yields for the Galaxy S6 from 7 million to 8 million by April, according to the Korean publication Electronic Times.