Huge profit increase leads to 9% rise in Samsung shares

Shares of Samsung surged up to nearly 9 percent on Wednesday, after their third quarter earnings blew past expectations. This increase in shares suggests that the company is getting back on track after a number of weak quarters. In an effort to preserve its share in the smartphone industry, Samsung has been implementing new curved displays and adding new software features to its devices. One of Samsung’s most costly smartphones, the Galaxy Edge which has a curved display, is lacking in profit because of manufacturing limitations. A vast majority of Samsung’s smartphone sales came from its lower priced smartphone models that were more affordable than Apple’s iPhones.

Samsung has been feeling the need to bump up their promoting costs to make its most recent smartphones all the more tempting to consumers as they try to battle off their rival, Apple. Apple’s new iPhones, the iPhone 6S and 6S Plus come with a new pressure-sensitive touchscreen technology called 3D Touch. Experts in the tech world have been quoted saying 3D Touch might be the “Next Big Idea” in touchscreens and interfaces. Soh Hyun-chul, who is an analyst at Shinhan Investment predicts that Samsung’s profit will slowly begin to decrease during the current quarter.

Some of these new and improved software devices for Samsung include no plugs, and built in wireless charging on their new Galaxy 6S Edge.Built-in wireless charging means you can charge without the cords. With technology being more and more relied on in today’s society, it is important that technology companies are able to keep up with the fast moving culture.


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