SEOUL- Samsung Electronics Co. said Tuesday its second-quarter operating profit likely fell for the seventh straight quarter despite the launch of flagship smartphones. That compares with the 7.2 trillion won average of 33 analyst estimates compiled by Bloomberg.
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But even though the South Korean firm’s annual profit is expected to rebound this year from the three-year low set in 2014, the firm’s stock price has languished amid doubts about sales of the new Galaxy S6 smartphones.
Second quarter earnings for the world’s biggest smartphone maker, Samsung Electronics, will likely miss expectations, the tech giant said. The company is scheduled to disclose its net profit and breakdown figures among its business divisions later this month.
Android 5.1.1 Lollipop update is now being extended for Galaxy S6 and S6 Edge owners on Sprint. This is why we’re not surprised to find out that LG is reportedly getting ready to seed Android 5.1.1 Lollipop to its 2013 flagship smartphone.
The company is struggling to see growth in a saturated smartphone market.
“Analysts are revising down this year’s shipment forecasts for the S6 because demand for the Edge model is exceeding supply, while the other version isn’t selling well given its limited differences with the iPhone 6”.
Samsung’s smartphone sales were also hit by a new law that was enforced in South Korea past year, which barred handset vendors from giving hefty subsidies to phone buyers.
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Android 5.1 Lollipop update is now beginning to roll out to the Samsung Galaxy S6 Edge and Galaxy S6 on Sprint. Apple’s newest models also featured larger screens that were similar in size to the Samsung phones, removing one of Samsung’s advantages. Of those surveyed, 20 have cut their forecasts in the past 30 days by an average of 3.9 percent. Data from researcher Counterpoint released in June showed that Samsung sold 6 million S6 smartphones from the April 10 launch to the end of the month, outpacing the previous S5 model in the same time frame.
