Samsung today announced its earnings for Q2, 2015 and things are not looking rosy for the company. The company’s revenue declined to KRW 48.54 trillion ($41 billion) while its profit dropped by eight percent to KRW 6.9 trillion ($5.9 billion) on a year-on-year basis.
While its profits and revenue declined on a yearly basis, they did improve by 13 percent and 3 percent compared to the previous quarter. The company noted in its earnings call that despite launching the Galaxy S6, there were only marginal improvements in its earnings because of “low smartphone shipments” and an increased marketing expenditure.
For the second half of this year, Samsung is hoping to continue the sales momentum of the Galaxy S6 and Galaxy S6 edge by “flexibly adjusting” their price and introducing new premium smartphones with larger screens. The Korean company also expects tablet sales to further slow down in 2H, 2015, but it is planning on responding to it with its new Galaxy Tab A series of tablets and a “new product scheduled for later this year.”
Samsung is expected to launch the Galaxy Note 5 and the Galaxy S6 edge Plus at its next Galaxy Unpacked event scheduled for August 13. The company has pushed forward the unveiling of its flagship phablet this year to counter the lacklustre sales of the Galaxy S6 and S6 edge.