Uh oh. The Samsung Galaxy S4 appears to be in sales trouble. According to a report in Korean paper, ETNews, which was quoting industry sources, the Wireless Business Division at Samsung Electronics is planning to reduce the production of Galaxy S4 by 10 to 15 percent per month.
The report also states that the company could retire the Galaxy S3 sooner than originally planned. It adds that the July order for parts of Galaxy handsets is 6.5 million only about half of the order that was in May.
The Samsung Galaxy S4 might have been the worlds fastest selling mobile phone with the company claiming that it had shipped 10 million devices within just one month of the launch. However things have gone downhill from there.
According to recent reports, analysts have downgraded Samsung stating that they had set hopelessly optimistic forecasts for its smartphone sales.
A Reuters report highlighted that sales estimates for the S4 were slashed by as much as 30 percent, stirring investor concerns over Samsung’s mobile devices division – the company’s biggest profit generator.
JPMorgan also slashed its earnings estimates for the company, and said monthly orders for the S4 have been cut by 20-30 percent to 7-8 million from July due to weak demand in Europe and South Korea.
JK Shin, head of Samsung’s mobile devices division, however defended the S4 sales telling reporters that the numbers were solid and that some analysts had higher expectations which were then lowered.
Samsung has launched various versions of the Galaxy S4 from the mini to Zoom to Active. The company has also promised a version with faster 4G Internet.
Recommended For You
35 mins ago
38 mins ago