Samsung Electronics hinted at cutting prices of its flagship smartphones later this year, pledging to focus on premium TVs and chips for more profits.
The Korean tech giant announced an 8 per cent drop in second-quarter net profits at the company’s conference call on the day as its smartphone business remained sluggish on lackluster Galaxy S6 sales.
Net income came to $4.95 billion in the April-June period, 7.97 per cent down from 6.25 trillion won a year earlier.