Galaxy S6 Latest Update: Samsung to Cut Lineup Price to Boost Lagging Sales

Samsung Electronics has decided to cut the price of its high-end Galaxy S6 lineup in a bid to fight the recessionary trends, face the severe competition from Apple's iPhone, and improve the dipping sales graph. Other factors such as a dip in the profits for the consecutive fifth term, and the poor market response for this model have forced Samsung to slash the prices and aim for higher sales figures.

The company will slash the prices of models such as the S6 and S6 Edge with Curved screen to help pick up sales. However, some analysts consider this "Flexible Price adjustment," as announced by Samsung a desperate measure to increase sales and boost profitability.

Samsung announced its second-quarter financial results, disappointing the markets with lower than estimated profits. The company blames the poor show on the dipping sales of its high-end models S6 and S6 edge.

The company said, it misread the demand for S6 lineup phones and could not supply enough of S6 edge models to meet the demand, while the regular S6 failed to meet the intense competition from the likes of Apple's iPhone, etc. As a result, of the poor financial the company's shares fell to 1,215,000 won in Seoul, down by 3.8 percent.

International Data Corporation in report indicated that as compared to same quarter last year Samsung has lost market share by 3.1% on the other hand Apple gained 2.4% market share. To improve the profitability, the company also has plans to introduce a few more high-end - middle-end, and low-end smart phones. Research firm Gartner says, the decision comes in the wake of dwindling sales in every segment, as the companies lineup failed to withstand intense competition in the high-end segment from companies such as Apple and low-end segment from the likes of Huawei and Xiaomi.

Analysts believe that during "Unpacked 2015" the product launch event of the company, to be held on August 13, the company may release all these new models, alongside Galaxy S6 Plus and Galaxy note 5 claiming that these devices can face the competition with their sleek deign, faster processers, and bigger displays.