Samsung galaxy s7
Image: Tech Stage

Samsung has said it expects to see a 10% rise in operating profits for the first quarter of the year, following strong sales of the new Galaxy S7 smartphone.

The world’s largest smartphone manufacturer said it is likely to report profits of 6.6 trillion won (£3.9bn) in the first three months of the year, up from 6tn won in the same period last year.

The Korean giant also expects a 4% rise in sales to 49tn won.

Samsung has come under increasing pressure over the past two years. Having cemented its place at the world’s biggest smartphone manufacturer, it is now facing greater competition from Apple in the premium market, and Chinese firms like Xiaomi and Huawei at the cheaper end of the market.

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