Samsung Galaxy Note 8 boosts Suny

The share price of Suny Cellular Communication Ltd. rose 6% on Monday after the company notified the Tel Aviv Stock Exchange 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).

Monday’s jump brought the rise in Suny Cellular’s share price to 450% this year, and the company’s market cap reached NIS 540m.

Suny Cellular said 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 in 2015.

The company predicted that its sales would total 25,000 devices in the first month.

“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,” Suny Cellular acting CEO and vice president for sales and marketing Moshe Peri said. “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.”