In 2014, the company struggled with falling market share and intense competition from the likes of Apple and Chinese brands such as Xiaomi. Its Galaxy S5 flagship phone that year was met with lukewarm reception.
But the release of the S6 and S6 Edge in February 2015 marked a turnaround in Samsung's smartphone business. And the S7, S7 Edge and Note 7 have continued that process and the company considers it is now in a position to challenge Apple.
Following this shift in focus, operating profit in its IT and mobile communications division – of which smartphone sales are a large chunk – were up 56 percent year-on-year in the second quarter of 2016.
Samsung said consumer interest in the Note 7, its phablet device released earlier this month, "has already exceeded that seen with the Galaxy S7 and S7 edge", adding that it intends to limit pre-order supply to meet demand when it goes on sale next month.