“Samsung’s flagship Galaxy S5 has been struggling to match the successes of its predecessor since it first went on sale back in February, and nine months on, things aren’t looking much better,” Lee Jae-seung reports for Korea Times. “Thanks to declining demand in many markets, the Galaxy S5 is missing sales projections by 40%.”
“In China, demand for the Galaxy S5 has plummeted as much as 50%,” Lee reports. “Samsung wasn’t prepared for this — it expected the Galaxy S5 to be bigger than any Galaxy S smartphone that came before it — and as a result, the handset has fallen well short of the company’s ambitious sales projections.”
“Samsung has been forced to spend yet more money on advertising in an effort to shift the Galaxy S5 units currently “piling up in warehouses,” say sources speaking to The Wall Street Journal,” Lee reports. “Today’s news comes less than a week after Samsung vowed to release fewer smartphones in 2015 in an effort to cut costs and reverse falling profits.”
Read more in the full article here.
MacDailyNews Take: Hey, beleaguered Samsung, Merry Christmas!
Here’s a nice, warm and toasty present for you: