Samsung to 'adjust' Galaxy S6 prices following profit drop

Samsung's quarterly results are in, and the results, especially for the company's mobile division, are not good

Samsung's revenue in the second quarter of 2015 was 48.54 trillion won ($41.7 billion), with profit being 6.9 trillion won ($5.87 billion) — an increase over last quarter, but a 7 and 4 percent year-over-year drop, respectively

The company's mobile division turned a profit of 2.76 trillion won ($2.35 billion), a steep drop over last year's Q2 profit of 4.42 trillion won ($3.76 billion). Samsung attributes this to declining shipments of older mid- and low-range models, marketing expenditures and failing to meet the market demand for its Galaxy S6 Edge. While that sounds like a good problem to have, Samsung expects the smartphone market's growth to slow down in the second half of 2015, which is why it will "flexibly adjust" the prices of its Galaxy S6 and S6 Edge — presumably meaning a price drop Read more...