Next week, Samsung will take the wraps off its next-gen Galaxy Note 5 and Galaxy Note Edge+ at a special event in New York. The Galaxy Note 5 announcement would come just a couple of weeks after the Korean electronics giant reported disappointing second-quarter results. Samsung’s net profit declined 8% YoY to $4.9 billion. The condition of its mobile business was even worse, where Q2 operating profits tumbled from 4.42 trillion won to 2.76 trillion won.
Galaxy Note 5 an upsized version of S6
Samsung admitted that the Galaxy S6 and S6 Edge sales were not as good as expected. The company is planning to reduce the price of the S6 and S6 Edge in order to “face a difficult business environment.” Samsung dominated the smartphone world with its big screen devices until Apple was stuck to 4-inch iPhones. The launch of iPhone 6 and 6 Plus came as a major blow to Samsung, at least in the premium segment.