The Galaxy S7 made Samsung a lot of money

Samsung announced that its earnings for the first quarter of 2016 were better than expected.

Operating profit grew 12% to 6.68 trillion won (R84.5 billion), while revenue for the quarter was up 5.7% from last year to 49.78 trillion won (R629 billion).

The profit growth was mainly due to the early launch of the Galaxy S7 and S7 Edge, said Samsung, as well as higher sales of OLED panels and a stronger showing from its semiconductor division.

TechCrunch reported that the sales of the Samsung Galaxy S7 range were helped by better pricing and an earlier release.

It should be noted that Samsung’s previous flagship range, consisting of the Galaxy S6 and S6 Edge, did not launch until April 2015 – which means it sales did not reflect in 2015’s Q1 results.

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The Galaxy S7 made Samsung a lot of money