Samsung is going to get a huge fillip and a head start, when its big screen Galaxy Note 4 phablet hits the Chinese market. Samsung has managed to include all the three state run carriers to figure Galaxy Note 4 in their inventories. While iPhone 6 is still waiting for the nod from the government, Galaxy Note 4 will be romping home with glee.
Note 4 release date in China is on September 30. The device is scheduled for a release in South Korea on September 26th. Note 4 will be available through China Mobile Ltd at 5,199 yuan ($848).However the carrier’s website did not offer details of different monthly plans and their prices.
Things are not going smooth for the South Korean electronics giant. Falling shares and earnings have increased concerns about the company’s deteriorating earnings. The news of booming iPhone 6 sales have added more misery. Chinese carriers are lowering their subsidies for the new devices.
Lee Don Joo, president of the strategic marketing office at Samsung’s mobile business, said today “The recent business condition is seen as temporarily difficult. There are some subsidy cut movements detected in overseas markets as well, so the overall market may shrink a bit and may have a temporary impact.”
Samsung shares fell for the third day in a row and shares declined 1 percent to 1,150,000 won. The shares have declined by more than 16 percent this year, wiping out about $31.4 billion from Samsung’s market value.
According to data compiled by Bloomberg, experts have lowered estimates for operating profit in the third quarter by 17 percent. It is pegged at 6.09 trillion won $5.9 billion.
Samsung will release its Galaxy Note 4 in South Korea for $922 on Friday. The global sale of the 5.6-inch Note Edge will commence in the fourth quarter of this year.