The Samsung Galaxy S5 Neo has been making the rounds for over a year, but it has yet to show up.
Poor sales of S6 only proved that it can’t beat Apple in brand loyalty among users and just ended up being one of the many Androids, said Yoo Eui Hyung, an analyst with Dongbu Securities Co.in Seoul.
Samsung said Thursday that second-quarter revenues totaled W48.5 trillion and operating profit W6.9 trillion (US$1=W1,170).
Samsung misreads demand for the high-end devices released in April, failing to produce enough curved screens for the popular Edge version while the traditional model struggled to challenge Apple’s bigger iPhones.
Samsung has dropped 11 percent this year and is on course for its biggest annual decline since the global financial crisis. During the event, the Korean tech giant is expected to unveil the Galaxy Note 5 and Galaxy S6 edge+ phablets.
While Samsung did not provide the details of the adjustment, a source revealed that the smartphones may receive a price cut.
Internet leaker Evan Blass has recently taken to Twitter to post what appear to be official press renders of both the Galaxy Note 5 and another handset that’s also been rumoured for a long time, the Galaxy S6 Edge +.
Samsung will sell 40 million units of the S6 models this year, compared with an earlier projection of 43 million.
The Galaxy S6 has so far had a recommended retail price of 699 in the Netherlands in the base 32GB configuration.
Samsung has been releasing phones nearly on a bi-weekly basis and has been coming out with a large number of phones at different price points. Second quarter operating profit came in at W2.76 trillion, up W20 billion from the first quarter. The company added that the price of the flagship Samsung Galaxy S6 along with the Samsung Galaxy S6 Edge will be adjusted to sustain its sales momentum. It also said that the memory and display business will see good performance in the second half of the year, but there will be risk factors as well, including the increase in supply of LCD panels and premium DRAM in the industry.