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Shinhan Investment Corporation Predicts 46 Million Galaxy S6s Sold
Galactic Prediction
Shinhan Investment Corporation Predicts 46 Million Galaxy S6s Sold
  • By mary
  • March 3, 2015, 05:59
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The new Blue Topaz Galaxy S6.
The new Blue Topaz Galaxy S6.

 

Shinhan Investment Corporation predicts that over 46 million Galaxy S6s will be sold.

​Shinhan Investment Corporation upgraded the target price of Samsung Electronics' shares to 1.75 million won (US$1,596), saying that Samsung Electronics is expected to earn a respectable operating profit thanks to promising sales of the Galaxay S6.

It estimated to raise Samsung's annual operating profit from 23.6 to 25.2 trillion won (US$21.5 to $23.0 billion), forecasting that "sales and operating profit are projected to grow 0.5 percent and 0.9 percent year-on-year, respectively, to 216.5 trillion won from 214.5 trillion won [US$197.6 to $195.7 billion]."

Kim yung-chan, an analyst at Shinhan Investment Corporation, predicted that the company will turn in an operating profit of 5.4 trillion won (+0.1 percent QoQ) this year because of brisk memory sales, non-memory cheap margin gains on increasing adoption of the Exynos, and enhanced cost efficiency of the  IT and mobile communications (IM) division.

He said, "with the release of the new flagship smartphone model, IM earnings appear to rebound in the first quarter. And a non-memory chip division is expected to stage an earnngs turnaround thanks to the resumptionm of foundry orders from Apple and the increased adoption of the Exynos in Samsung products."

Shinhan Investment Corporation expects 15 percent more of the S6 and S6 Edge to be sold than the S5, and predicts that overall smartphone unit sales will go up to 326 million units.

On the other hand, Korea Investment Co., Ltd. and HI Investment & Securities co., Ltd. predicted that the sales of Samsung phones will only go up to 42 million, 11 percent more than the sales of the Galaxy S5.