Samsung Plots Galaxy S6 Price cut, New Phones to Help Business

Lackluster demand for its flagship Galaxy S6 smartphone and higher marketing costs led Samsung Electronics to another quarter of falling sales and profits in the April to June period.

Net profit at the company was 5.75 trillion won (US$49 billion), down 8 percent on the same period a year earlier, while sales fell 7 percent to 48.5 trillion won, it said Wednesday. Both figures are in line with expectations published by Samsung earlier this month.

In the key smartphone market, an area led by Samsung until recently, the popularity of Apple’s iPhone 6 and 6 Plus handsets and the rise of lower-cost phones from Chinese vendors squeezed Samsung at both the high and low end of the market.

The company said Galaxy S6 and S6 Edge sales were lower than expected.

It still managed to make money but not nearly as much as the same time last year. Operating profit for the quarter was 2.8 trillion won, down about 38 percent on the same period of 2014.

The results come against a backdrop of continuing record quarterly results at smartphone rival Apple. It sold 47.5 million phones in the quarter and recorded sales of $49.6 billion and a quarterly net profit of $10.7 billion — both squarely ahead of sales and profits at Samsung.

For the rest of this year, Samsung said it will attempt to boost smartphone sales by reducing the price of the Galaxy S6 and introducing new large-screen models. This time more than ever before, the company is under intense pressure to score a hit with a new phone to help turn around its declining business.

Results at Samsung’s other main business units were mixed.

The consumer electronics business was helped by the launch of new flat-screen TV models, but sales and profits fell.

Its semiconductor business was one of the few bright spots, with sales up 15 percent and operating profit up 55 percent. Samsung said that was largely due to high-value memory chips and increasing demand for its mobile phone processors.

Martyn Williams covers mobile telecoms, Silicon Valley and general technology breaking news for The IDG News Service. Follow Martyn on Twitter at @martyn_williams. Martyn’s e-mail address is martyn_williams@idg.com

Article source: http://www.computerworld.in/news/samsung-plots-galaxy-s6-price-cut,-new-phones-to-help-business

Posted in Plot in India |

Parliament: Panel to table report on real estate Bill today

The panel has recommended inclusion of smaller-sized projects under the ambit of the regulatory authority. The select committee of Rajya Sabha is expected to table its report on the real estate Bill — The Real Estate (Regulation and Development) Bill, … Continue reading

Posted in Plot in India |

Jordan jails 8 for plots against US troops, Israel

Amman: Jordan handed down jail sentences today against seven of its citizens and a Syrian for planning attacks on US soldiers in the country and on the Israeli embassy, a judicial source said. The plots in question would have involved … Continue reading

Posted in Plot in India |

Canary Wharf model for biz hub

LONDON: Tall shimmering sky scrapers of London’s business district may soon be seen in the heart of Kolkata. Chief minister Mamata Banerjee has decided to recreate London’s financial district – Canary Wharf, in Rajarhat. According to Banerjee, the financial hub … Continue reading

Posted in Plot in India |

New law to seize property of corrupt officials

MUMBAI: The state government announced that it will come up with a new independent law state legislative winter session (December) to seize the property of corrupt officials. Chief minister Devendra Fadnavis has announced in the legislative council on Wednesday while … Continue reading

Posted in Property news |

Canary Wharf model for biz hub

LONDON: Tall shimmering sky scrapers of London’s business district may soon be seen in the heart of Kolkata. Chief minister Mamata Banerjee has decided to recreate London’s financial district – Canary Wharf, in Rajarhat. According to Banerjee, the financial hub … Continue reading

Posted in Plot in India |

One bidder is nice for RSA Insurance – but More Than one would be better

Here’s a safe prediction: a sale of RSA Insurance to Zurich, or any other foreign bidder, would produce not a single howl of anguish about a great British company being sold overseas. Insurance for cars and homes doesn’t stir patriotic … Continue reading

Posted in Plot in India |

land law: Victim of cynicism and lack of vision

The clumsily designated Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (Amendment) Bill has been the victim of clumsiness in forms other than its name. To start with, these relate to the absence of an uncluttered … Continue reading

Posted in Plot in India |

Hindutva leader Sadhvi Prachi arrested for defying orders

Hindutva leader, Sadhvi Prachi. (Source: PTI) Firebrand Hindutva leader Sadhvi Prachi was on Monday arrested while she was on her way to hold a Mahapanchayat on the eve-teasing issue in Paharpur village under Shergarh police station area. The district administration … Continue reading

Posted in Property news |

A history of attacks: Here are other instances of violence which shook Gurdaspur

In the first major terror strike in Punjab in eight years, heavily-armed militants in army uniform on Monday sprayed bullets on a moving bus and stormed a police station, killing at least eight persons, including an SP, and injuring eight … Continue reading

Posted in Plot in India |