From ComputerWorld: Lackluster demand for its flagship Galaxy S6 smartphone and higher marketing costs led Samsung Electronics to another quarter of falling sales and profits in the April to June period.
Net profit at the company was 5.75 trillion won (US$49 billion), down 8 percent on the same period a year earlier, while sales fell 7 percent to 48.5 trillion won, it said Wednesday. Both figures are in line with expectations published by Samsung earlier this month.
In the key smartphone market, an area led by Samsung until recently, the popularity of Apple's iPhone 6 and 6 Plus handsets and the rise of lower-cost phones from Chinese vendors squeezed Samsung at both the high and low end of the market.
The company said Galaxy S6 and S6 Edge sales were lower than expected.
It still managed to make money but not nearly as much as the same time last year. Operating profit for the quarter was 2.8 trillion won, down about 38 percent on the same period of 2014.
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