Samsung Electronics Co is prepping to launch a main premium smartphone model, claim sources familiar to the matter. The South Korean tech giant seems to be on the verge of reviving its sales after a sluggish performance in the second quarter.
The leading smartphone manufacturer is all set to launch a new Galaxy Note model phablet in mid-August, claimed the unidentified source as the subject is sensitive. The third and fourth generation variants of the phablets were launched in September 2013 and September 2014 respectively.
As per a Samsung spokeswoman who declined to comment on the topic, the mid-August launch will put the upcoming fifth generation Galaxy Note phablet in the market in order to compete with its rival Apple that will launch its flagship smartphone sometime in the same time frame.
The U.S. based manufacturer is prepping its largest initial production run for the new phones by the end of this year, claimed a report that surfaced earlier this week.
Samsung is looking for a rebound from the disappointing performance exhibited in the year 2014. At this time, Samsung’s annual profit a three year low due to the slump in its smartphone earnings.
Though the earnings of Samsung are reviving now, its second quarter guidance of a 6.9 trillion won an operating profit $6.11 billion falling short of the market expectations. This happened as there was a shortage in the supply of the curved screen version of its flagship smartphone Galaxy S6 called Galaxy S6 Edge.
Regarding the same, Park Jung-hoon, Fund Manager at HDC Asset Management stated that there is no idea on how much the early launch of the Galaxy Note 5 will help the company in boosting its average selling price for the smartphones. However, it suggests that Samsung is struggling hard to maintain the market share in the high-end market segment.