• Samsung Slashing Prices to Address Disappointing Earnings

    At the close of July, Samsung Electronics revealed second quarter earnings that didn't exactly wow Wall Street. In fact, the consumer electronics giant revealed that net profit actually dipped 8 percent year-on-year.

    In response to the disappointing earnings and the reaction to the news among traders and investors, Samsung -- as expected -- is addressing the situation through a concerted effort to slash prices of some of its mobile products.

    As Beta News detailed in depth this morning, Samsung is mitigating the retail price of its flagship Galaxy S6 and Galaxy S6 Edge smartphones across the pond by 100.

    "After the deduction, the revised cost of the 32GB variant Galaxy S6 is 599, whereas its Galaxy S6 Edge counterpart will slightly break the bank at 699," says Manish Singh of Beta News, who notes that the smartphones have only been around for about four months.

    Samsung, of course, isn't the only tech giant to suffer some Wall Street setbacks. While Apple didn't respond with product price reductions, Apple also posted earnings last month that, despite being record setting in some ways, failed to move Wall Street in any significant way and shares of AAPL have since paid the price.

    Source: Beta News
    This article was originally published in forum thread: Samsung Slashing Prices to Address Disappointing Earnings started by Michael Essany View original post
    Comments 2 Comments
    1. fleurya's Avatar
      fleurya -
      Wasn't it like an extra $150 for the Edge version? Even at $100 premium it is a waste of money. Ut's another terrible gimiick by Samsung.

      Maybe people finally realized you don't need to upgrade your hardware every 2 years. Or the gimmicks they are coming out with to try to get people to do that are not compelling enough any more (all companies).
    1. exNavy's Avatar
      exNavy -
      Poor Android fan boys must all be crying in their mommies basements tonight.
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