Samsung May Cut Galaxy S6 Price After Fifth Straight Profit Decline
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Samsung Electronics Co. signaled price cuts for its high-end Galaxy S6 smartphones to combat a market slowdown and surging sales of Apple Inc.’s iPhones after posting a fifth straight profit decline. Shares fell.
The company will be “adjusting” prices for the S6 and for the curved-screen S6 Edge to maintain sales growth, Samsung said Thursday. Net income, excluding minority interests, fell to 5.63 trillion won ($4.9 billion) in the three months ended June, missing estimates and triggering the biggest decline in shares in four months.