Samsung In Troubled Waters - VP Promises A New Non-Plastic Smartphone As Profits Continue To Dip

Things aren't going that well for folks over at Samsung information technology seems. Recently, the company reported its starting time year-over-year drib in net profits, with its net profit falling a staggering 19.vi %. All of this permit to investor confidence falling with $ 7.5 billion being lost through sale of Samsung stock this Th. To regain this confidence back, Samsung'south Senior VP Kim Hyun-Joon promised two new high end smartphones within the next six months, the wall street journal reports. One of these models will be a large screen phone while the other will be made of 'new materials'.

The big screen device will near probably be the latest offering in the company'south Galaxy Note line. The second device remains a mystery as of yet. Could it possibly be the Samsung Milky way Blastoff? The Galaxy Alpha is rumored to be the visitor's adjacent offering made of metal which will compete confronting Apple tree's upcoming iPhone 6.

Autonomously from these, Mr. Kim also added that it will introduce new models for the low to mid end of the market. The reason behind the company'due south poor functioning this time was an overestimation of demand which led to a loftier amount of inventories being held. In addition, currency fasten and stiff overseas contest led towards a further decrease in overall earnings. Total operating turn a profit decreased by a whooping 24.half-dozen% for the company. Operating turn a profit for the mobile partitioning of the company fell by thirty%. Seems like Samsung is in troubled waters. And with Apple's upcoming iPhone half dozen launch, the company sure needs to exercise something if it intends to plow things around. Peradventure a metal phone will practise the trick.

Source: https://wccftech.com/samsung-vp-promises-nonplastic-smartphone-profits-continue-dip/

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