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Samsung set to drop Galaxy S6 prices after poor sales

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Samsung set to drop Galaxy S6 prices after poor sales

Samsung will cut the price of its Galaxy S6 and Galaxy S6 Edge handsets, after confirming it misjudged demand for the latter handset.

Speaking with investors after it revealed a 38% year–on–year fall in earnings for its mobile division, Samsung said it would be ‘adjusting’ the price of the two flagship phones, just four months after they went on sale.

The Korean giant revealed last week that it was expecting poor figures for the April to June quarter.

But the hefty profit slide in mobile, coupled with an overall drop of 4% across its entire electronics business, has shocked many seasoned tech-watchers.

Samsung had thought that the standard-screen Galaxy S6 would be the model that gave the iPhone 6 and iPhone 6 Plus a run for their money.

However, in fact it was the Galaxy S6 Edge variant that was more in-demand, leaving Samsung short of stock of the phone that punters really wanted.

“Poor sales of S6 only proved that it can’t beat Apple in brand loyalty among users and just ended up being one of the many Androids,” analyst Yoo Eui Hyung told Bloomberg.

Samsung is expected to reveal two new handsets at a special event on August 13th. The much–touted Galaxy S6 Edge+, with a larger curved screen, and the new Galaxy Note 5 are set to debut at the gathering in New York.

However, with Apple set to unveil new iPhones in September, it seems Samsung may have its work cut out convincing consumers to make the switch.

Source:

Bloomberg

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