Samsung's profit jumps 42% on high sales Galaxy S7, S7 Edge

South Korean multinational conglomerate company Samsung Electronics has announced its earnings for the first quarter of 2016 and their profit rose significantly with the sale of their latest flagship devices Galaxy S7, S7 Edge.

Samsung stated that the profit growth was due to early launch and successful sales of the well-received Galaxy S7 and S7 Edge smartphones.

The company's mobile division witnessed a 42% jump in operating profit.

The news of rise in profit for Samsung comes at a time when its rival Apple just posted its first-ever iPhone sales decline in 13 years.

Apple's revenue declined around the globe, including in China, which had been the major engine of growth for the company.