Analysts give mixed forecasts on sales of Samsung's S8 smartphone

Some analysts on Wednesday gave mixed forecasts on sales of Samsung Electronics Co.'s upcoming Galaxy S8 smartphone, which will be unveiled later this month.

Two analysts in South Korea expected sales of the S8 smartphone to exceed those of its predecessor, the S7 smartphone, while a brokerage in Taiwan predicted that sales of the S8 may fall short of the S7. 

The S8 smartphone follows Samsung's Galaxy Note 7 phablet, which was discontinued last year due to battery problems that caused some of the devices to catch fire.

Samsung is believed to have sold about 50 million S7 and S7 Edge smartphones.

Noh Kyeong-tak, an analyst at Eugene Investment and Securities in Seoul, said he expected global sales of the S8 to surpass 60 million units.

Helped by sales of the new flagship smartphone, Noh said Samsung's operating profit for the second quarter of this year rose to a record high of 12.1 trillion won ($10.5 billion).

Kim Yang-jae, an analyst at KTB Investment in Seoul, echoed the view, saying Samsung's smartphone shipment for this year will rise to a 2015 level of 320 million units.

However, Ming Chi Kuo, an analyst at KGI Securities in Taiwan, predicted that global sales of the S8 smartphone would stand at between 40 and 45 million units, as Apple Inc. plans to launch a new iPhone in the second half of this year.

Samsung plans to unveil the S8 smartphone on March 29 in New York and London.

Announcing the date of the new smartphone at the annual Mobile World Congress event in Barcelona last month, Samsung also said the S8 smartphone will offer a high-quality earphone featuring Harman's AKG technology.

The earphone is the first cooperative project between Samsung and Harman since the Korean electronics giant acquired the US audio and automotive electronics company in November last year. (Yonhap)