[THE INVESTOR] Samsung Electronics shipments of its Galaxy Note 7 could reach 12 million units in the latter half of this year, Hyundai Securities forecast on Aug. 3.

The latest Note phablet was unveiled on Aug. 2, with its key features including an iris scanner, a curved screen and waterproof stylus functions. 

“The Galaxy Note 7, which is scheduled to be launched on Aug. 19, will preoccupy demand for premium phones before Apple’s iPhone 7 that comes out later in September,” said Kim Dong-won, analyst at the securities firm.

“Considering its Galaxy S7 sibling is stilling selling strong since its launch five months ago, Samsung is expected to see a modest decline in overall smartphone sales in the latter half of this year.”

He forecast that the mobile business division, which makes up almost half the company’s total revenue, would see some 10 percent decrease in its third-quarter operating profit at about 3.9 trillion won compared to the second quarter.

By Lee Ji-yoon (jylee@heraldcorp.com)