Samsung lost US $ 10 billion of market value in July by low sales of S6 – Economic Week

Tecnolog & iacute; a

-> August 2, 2015

Samsung lost US $ 10,000 million market value July for low sales of S6

With the increase in iPhone sales and a stronger competition from Chinese vendors, Samsung announced that Galaxy will lower prices S6.

Weak sales of smartphones Samsung Galaxy S6 helped cause a drop in the shares of the company eliminated more than US $ 10,000 million market value in July, almost double the capitalization of its local rivals in South Korea , LG Electronics.

The action of Samsung fell 6.6%, while the largest manufacturer of smartphones in the world recorded the fifth consecutive drop in profits and said it will cut the prices of its new high-end devices less four months after its debut. He also warned about the slowdown in market growth of devices and tepid demand for memory chips.

The share of the global smartphone market Samsung fell more than 3 percentage points in the second quarter before rising the sale of the iPhone, Apple, and more vigorous competition from Chinese vendors like Xiaomi.

Samsung reported that its net income, excluding minority interests, fell to US $ 4.900 billion in the quarter ended in June. That figure fell short of estimates and generated the largest drop of shares in four months.

The company has fallen 11% in 2015 and is headed for its biggest annual drop since the global financial crisis . Of the 89 million units sold in the year, 80% were smartphones. Samsung said it will add more models of midrange and low, and reduce costs in the handset division.