Samsung Predicts Q2 Earnings, 25% Drop Expected

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Samsung has predicted a forecast of their earnings in Q2 and it does not look good. The Korean smartphone manufacturing giant’s earnings have dropped by as much as 25% in Q2 earnings. The sales figure will go down to $7.1 billion this year to $9.4 billion from last year during the same period. The earnings for Samsung in Q1 weren’t any good either during which they had faced a 3% dip in their sales but the dip has significantly increased over the last three months.

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Samsung has credited low smartphone sales due to competition in Chinese and some European markets with the dip in sales. The OnePlus One is a perfect example of this. OnePlus, the Chinese smartphone manufacturer’s smartphone ‘One’ has been doing extremely well in the smartphone market. The device offers amazing specs at low costs, which seems to have attracted customers. The One offers the same processor, a full-HD display and Corning Gorilla Glass 3- all of which are some of the main selling points for the Samsung Galaxy S5 at much lesser prices. The 16 GB variant of the One would cost you $299 while the 64 GB variant of the One comes with a price tag of $349, which is still half the price Samsung asks for the Galaxy S5.

Samsung expects to gain up on the sales figure during the coming period, with its new smartphone line up almost ready. Will Samsung be able to keep up? We’ll find out soon. Till then, stay updated and leave your views in comments below.

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