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Mark Peters : April 28th 2017 - 13:36 CET

Samsung financial report and premium product trends

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SamsungSamsung premium products and Q1 2017 financial results : Samsung Electronics Korea has published their Q1 2017 financial report. The consumer division, including the Visual Display and Digital Appliances businesses, posted KRW 10.34 trillion in consolidated revenue and KRW 0.38 trillion in operating profit for Q1 2017. In the first quarter of 2017, the TV market is projected to decline QoQ due to weak seasonality as well as decreased demand in the European and Latin American markets. Although Samsung achieved sales growth and maintained its leading position in the premium market thanks to its high-end product line-ups including Quantum Dot TV and premium curved Smart TV, profit declined YoY due to increased panel prices and currency fluctuations.
Premium product trends

Samsung premium TV series
Looking to Q2 2017, global TV market demand is projected to show a slight decrease YoY due to sluggish demand mostly in Europe. Under these circumstances, Samsung Electronics will aim to secure profitability and solidify its market leadership by expanding its premium TV line-ups including UHD and curved TVs, as well as beginning sales of new premium products such as 2017 QLED TVs and exclusive smart TV 'The Frame'.

For the TV market in 2017, demand is forecast to slightly increase due to recovery in emerging markets and strong UHD TV demand. While market competition is expected to intensify, Samsung will focus on sales of premium products to solidify its leadership in major consumer markets.

Premium home appliance products

Premium home appliance products
For the appliances business, sales improved Year to Year by continued growth in the North American market and increased sales of innovative premium products such as Chef Collection refrigerators and Activewash washers. However, Q1 2017 earnings remained flat YoY due to investments in the North American B2B market.

As for the Digital Appliances Business, Samsung will further strengthen its partnership with retailers and expand sales of seasonal products, including air conditioners, and focus on the launch of new premium products such as Family Hub 2.0 refrigerators and Samsung FlexWash washers planned for Q2 2017.

Samsung FlexWash washers

As for Digital Appliances in 2017 and beyond, Samsung Electronics will strengthen its B2B business by making full-scale advancement into the North American builders market, boosting online sales through key distribution channels, and expanding sales of premium products to achieve stronger performance.

   Next  Samsung headquarters 2017 financial report
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