It may have taken some time — not to mention a lot of money — but it seems that Samsung has fully recovered from the embarrassing Note 7 launch that plagued the company last year. Earlier this month, Samsung released some preliminary earnings data from its recent second quarter and the figures were impressive to say the least. Specifically, Samsung will likely post a record-breaking $12.1 billion in profits on the back of $52 billion in revenue. All in all, it’s an impressive turn around for a company that quite literally released an explosion-prone smartphone last year.

While Samsung was undoubtedly raking in the cash last quarter, sales of its flagship Galaxy S8 checked in a bit lower than many were anticipating. In fact, a new report from The Korea Herald reveals that S8 sales during the first 60 days following its launch are tracking markedly lower than S7 sales during a similar time frame. Whereas the S7 saw approximately 12 million in unit sales in the first two months after launch, S8 sales are believed to be in the 9.8 million range, representing a 20% drop.

The Galaxy S8 is a solid device that was well-received by both reviewers and users, a fact which makes the sales drop all the more curious. Addressing the issue, the Herald relays that S8 sales haven’t been able to keep up with the S7 do to an increasingly saturated smartphone market. Indeed, this isn’t an issue exclusive to Samsung as Apple has had to deal with a similar dynamic with respect to the iPhone. What’s more, not only is competition in the smartphone market more competitive than ever before, users are upgrading their devices far less frequently than in years past.

In a statement on the matter, a Samsung spokesperson suggested that a straight comparison between the S7 and S8 is somewhat misleading.

“A Samsung official refused to compare the S8 and S7 directly,” the report reads in part, “saying that the S8 started selling in three key markets first unlike the S7 that sold globally immediately.”

Regardless of how the S8 is doing, Samsung’s overall business appears to be healthier than ever.

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