Samsung announces price cuts for the Galaxy S6 and S6 Edge amidst slower than expected sales.
Samsung released their second quarter results. Samsung’s revenue for the quarter was KRW 48.54 trillion, a 3 percent increase quarter-on-quarter (QOQ), while the operating profit for the quarter was KRW 6.9 trillion, an increase of KRW 900 billion QOQ.
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The earnings increase is attributed largely to the strong sales in the Semiconductor Business.
Despite the launch of Galaxy S6, improvement to earnings was quite marginal due to low smartphone shipments and an increase in marketing expenses for new product launches.
Samsung has misjudged the demand for the Galaxy S6 edge with the unique screen design.
Consumers love it, but Samsung could not satisfy demand. As a result Samsung announces to cut the price of the Galaxy S6 and also the Galaxy S6 edge. How deep the price cut will be has not been announced.
An unlocked Galaxy S6 32GB currently sells for $569.99 on Amazon. The list price is $1,099. It is possible that the sales prices come down to under $500 after the Samsung price-cut.
The price cut goes along with the release of the new larger Galaxy S6 edge+. Samsung will unveil the Galaxy S6 edge Plus on August 13.
Samsung was not able to leverage the time between the release of the Galaxy S6 and the launch of the new iPhone.
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Now the company pitch the Galaxy S6 edge+ against the iPhone 6S Plus, which is not such a bad idea.