Samsung has announced its earnings guidance for Q1 2016, forecasting an operating of $5.7 billion (6.6 trillion won), which would be a solid bump of 10% over the same period a year ago. Samsung has also predicted its consolidated sales will come in at $42.3 billion (49 trillion won), which would be an increase over the $40.7 billion (47.1 trillion won) won the company generated in Q1 2015.

This quarter's guidance is notable because Samsung has signaled it expects to beat analyst forecasts, most likely due to strong sales of the Galaxy S7 and S7 edge. Samsung has had a rough go of things the past two years as competition has continued to heat up from agile rivals like Xiaomi and Huawei. The Korean tech giant has started to see things turn around in recent quarters, however.

In any case, we'll see if Samsung's predictions pan out when the company reports its final Q1 2016 sales figures later this month.