Samsung just pushed out its earning predictions for Q2 2015 and despite the company’s new flagship smartphone winning over critics and consumers, the Korean company is still falling short of the mark.
The mark in question is a comparison of the company’s finances at the same time last year. From Q2 2014 to Q2 2015 (April to July) Samsung expects operating profits to have dropped from 7.2 trillion won (£4.1 billion) to around 6 trillion won (£3.4 billion) and this quarter is particularly significant as it’s the first to take into account sales of the company’s latest flagship – the Galaxy S6 and S6 Edge.
Despite two shiny new top-notch flagship handsets, Samsung’s finances continue to fall and if these predictions come off as accurate, they’ll account for the seventh consecutive drop in profits on record.
An investment analyst told Bloomberg that the S6’s underperforming sales were as a direct result of stronger-than-expected iPhone sales – the star product of Samsung’s leading rival, Apple.
Despite the predicted shortcomings, Samsung’s decision to pack the S6 with its own silicon, rather than a processor from Qualcomm has pushed profits up in that area of the company’s business and word on the street is that Samsung has won back the contract to produce chips for Apple’s next iPhone, which will serve as a huge win.