Saturday, 27 May 2017
Mobile

Samsung slashes Galaxy S6 and Galaxy S6 Edge price

We earlier reported plans by Samsung to slash prices of the Galaxy S6 and S6 Edge. Well, Samsung officials have released the new reduced prices for Galaxy S6 and S6 Edge in Europe.

The reduction in prices of the products had earlier been announced by Samsung last week. The discount being offered on Galaxy S6 is about €100 ( ~$110) reducing the price to €599 (previously €699). Similarly Samsung Galaxy S6 Edge cost has declined from €849 (for the 32 GB version) to €699.

This discount is currently available only in Netherlands but Samsung has clarified that prices of Galaxy S6 and S6 Edge will fall in all other countries as well so as to make up for the previous loss in sales.

Meanwhile speculations about the launch of two new Samsung products, namely the Galaxy S6 Edge+ and the Galaxy Note 5, are in the air.

Samsung stated that prices had been reconsidered to give momentum to products sales. The move will bring some business to Samsung as the rival companies will have to fight back for their market share.

Shares of Samsung fell by 3.8% to 1,215,000 won in Seoul, and the stock faced 8.4% decline this year, trailing 5.4% gain in the Kospi index. Recently, International Data Corporation (IDC) report mentioned that the company’s share declined to 3.1% in 2015, while Apple gained 2.4% during the same period.

Earlier this week, the South Korean technology conglomerate mentioned a loss of KRW 5.75 trillion (equivalent to $4.93 billion) to Samsung Co. during the last year and sales fell to 7% as compared to the previous year.

Analysts are of the view that Samsung overestimated the demand for S6 and S6 Edge but the cut off will surely boost up the sales.

Samsung is expecting a sharp rise in its sales after adjusting the prices. Users are also expecting discounted prices for the Samsung’s upcoming devices that are to be launched in Unpacked event in New York City on August 13.