Samsung has announced plans to slash prices on its Galaxy S6 and S6 Edge smartphones, indicating an effort to boost lagging smartphone sales.
The tech giant reported second-quarter earnings on Wednesday and announced its "plans to firmly maintain its sale of premium smartphones by flexibly adjusting the price of the Galaxy S6 and S6 edge, and launching a new model with a larger screen." Samsung didn't announce specific prices, however.
The price-cutting move comes amid falling profits and a declining share of the smartphone market for Samsung. Profits fell 8 percent last quarter, including a 38 percent decline in mobile income. The company's worldwide quarterly smartphone shipments fell 2.3 percent year over year, according to research firm IDC.