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Samsung confident of success in Galaxy S7 series

All Headlines 14:27 March 10, 2016

By Kang Yoon-seung

SEOUL, March 10 (Yonhap) -- Samsung Electronics Co. said Thursday its new flagship smartphones are drawing a greater than expected market response, and their sales could exceed those of their predecessors, denying the rumor that the preorders of the Galaxy S7 series are sluggish.

"It is fairly great," said Koh Dong-jin, head of Samsung's mobile division, during the Galaxy S7 showcase event held in Seoul. "The figures for preorders are higher than expected, and full-fledged sales will begin Friday. I am strongly positive (about the sales)."

The Galaxy S7 and Galaxy S7 Edge, first showcased in Spain last month, will officially be available here for sale on Friday.

Samsung, however, declined to comment on the details of the preorder performance or sales target for the two smartphones.

The tech giant said the local price of the 32 gigabyte (GB) Galaxy S7 will be 836,000 won (US$690), compared with the initial price of 858,000 won for the 32GB Galaxy S6.

It has been rumored that the preorders for the new smartphones remain sluggish compared to the Galaxy S6, as buyers took a wait-and-see stance amid the scheduled releases of other flagship models from tech rivals, including LG Electronics Inc.

Koh also reaffirmed that the sales of the Galaxy S7 series will hover far above those of the Galaxy S6 series, saying that the robust shipment will also help Samsung recoup falling market shares in China.

"It is true that we have been suffering from challenges in China, and we are also aware of the importance of the Chinese market," Koh said, adding that the company is making various efforts with local partners to speed up sales.

Samsung saw its presence in the Chinese smartphone industry fall on-year in 2015, as local players continued to garner larger slices of the market.

The South Korean tech giant, which stood as the No. 3 player in the Chinese market in the fourth quarter of 2014, was not included in the top-five bracket for the October-December period of last year, data compiled by industry tracker Strategy Analytics showed earlier.

Samsung also said it will speed up efforts to bolster the virtual reality (VR) segment with the Gear 360, its first camera for VR contents.

"One of the core areas of focus for the VR market is content. Of that, what is more important is user-created content," Koh said, adding the Gear 360 paved the way for the boom in the VR industry ecosystem.

"The Gear 360 has changed the fundamental way of saving memory through videos. It will also lend hands to the popularization of VR platforms," Koh added.

colin@yna.co.kr
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