The share price of Suny Cellular Communication Ltd. (TASE:SNCM) was up 6% today on a lively turnover, after the company notified the Tel Aviv Stock Exchange (TASE) of its sales figures for the recently launched Samsung Note 8. Suny Cellular, which markets Samsung smartphones and related devices, reported the sale of 18,000 Note 8 devices for NIS 55 million in less than a month. Half of this number was sold by the end of September (there were 5,000 advance orders for the device, which was launched on September 25).
Today's jump brought the rise in Suny Cellular's share price to 450% this year, and the company's market cap reached NIS 540 million. Controlled by Lapidoth, Jacob Luxenburg's company, Suny Cellular said that sales were up 150% in the number of devices and 160% in sales proceeds, compared with sales of the Samsung Note 5 (the preceding model in the series, which was sold for an entire year) during the same period of time in 2015. The company predicted that its sales would total 25,000 devices in the first month. Suny Cellular acting CEO and VP sales and marketing Moshe Peri commented, "This is a direct continuation of the success of the Samsung S8 series of devices, which has had a significant effect on the company's business results, as reflected in the second quarter.
"At the same time, Suny Cellular is continuing its effects to expand deployment of its sales points throughout Israel. We plan to open seven more sales points by the end of next year, giving us a nationwide deployment of 25 stores and sales points."
Published by Globes [online], Israel Business News - www.globes-online.com - on October 16, 2017
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