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Consumer Electronics

Galaxy S7 Surges as Apple iPhone 6 Falters

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By Douglas A. McIntyre Updated Published
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Galaxy S7 Surges as Apple iPhone 6 Falters

© courtesy of Samsung Electronics Co. Ltd.

Samsung announced its most recently quarterly results, and with them news that sales of its new Galaxy S7 have gotten off to a strong start. This contrasts with the weak sales of the iPhone 6 family, which have hurt Apple Inc. (NASDAQ: AAPL). If the trend continues as the smartphone sector becomes more crowded, Apple is in for another two or three poor quarters.

According to MarketWatch, analysts believe Samsung shipped 10 million to 11 million Galaxy S7 units. The model was only in the market for a portion of the quarter. Apple shipped 51.3 million iPhones, down 16% from the same quarter last year. The iPhone was available for the entire quarter.

Samsung’s smartphones bested iPhone sales by a large margin three years ago. The iPhone 6 family changed that. Apple can only reverse the trend in its favor again if the iPhone 7 is a smash hit, and even fans of the company have started to doubt that.
[nativounit]

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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