Samsung posts Q2 2015 financial earnings, confirms a new device is coming

The second quarter for Samsung ended on June 30th and yesterday the company posted its quarterly financial results.

The South Korean company aimed to get back on top of things after experiencing a slowdown last time around. In hope of resurgence, Samsung released the high-end Galaxy S6 and Galaxy S6 Edge.

Samsung reported a $5.93 billion operating profit with overall revenue standing at $41.7 billion. These numbers are a slight improvement over last quarter, but is not the return Samsung was hoping for. Samsung mentioned most improvements came after strong sales in the semiconductor business, such as processors and memory products. In addition, its TV business also played a large role.

More interestingly, in the smartphone category, Samsung posted revenues of $22.4 billion and net profits of $2.37 billion. Even though the new flagship handsets didn’t sell as great as the company expected, they still increased over last years Galaxy S5. Again, these are only slight improvements over last quarter. Blame was put on low-end and mid-range handsets which allegedly didn’t sell nearly as well, thus keeping the profits at a minimum.

In other news, the company made a statement following the posting of the financial results: Samsung will be “flexibly adjusting the prices” of the Galaxy S6 and S6 Edge and also release “a new model with a larger screen.” The new device with a large display is almost guaranteed to be the Galaxy Note 5.

More details about Samsung’s Q2 2015 financial results can be found at the source link below.

Source: Samsung Tomorrow

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