Mobile profits down 37.6 per cent from a year ago as manufacturer vows to “adjust” the price of its flagship smartphone
Samsung is set to slash the price of its flagship Galaxy S6 smartphone after reporting a Q2 fall in mobile profits of 37.6 per cent.
Mobile profit for the second quarter was 2.76 trillion won (£1.5 billion), down from 4.42 trillion (£2.6 billion) won from the same quarter a year ago.
Sales in this division also fell 28.45 trillion won (£15.5 billion) to 26.06 trillion won (£14.2 billion).
Reviewing its quarterly results, Samsung said smartphone shipments fell quarter-on-quarter due to low sales of its older mid/low-end models.
Looking ahead to the remainder of this year, it said it will “focus on maintaining strong high-end sales with strategic adjustment of S6 price and new large-screen model launches”.
Both the Samsung Galaxy S6 (pictured left) and S6 edge (pictured right) were unveiled at Mobile World Congress in Barcelona in February, but the latter has reportedly being dogged by production and supply issues since release its release in April.
According to a report in the Wall Street Journal last month, Samsung told its investors in the Spring that it expected to sell three Galaxy S6s for every S6 edge that it sells.
However, it added demand for the S6 edge has exceeded demand, forcing Samsung mobile chief JK Shin to warn in April it would take several months to ramp up manufacturing to meet demand.