SEOUL/NEW YORK (Reuters) – Samsung unveiled a new model of the Galaxy Note smartphone on Wednesday with quick 5G community connection and improved digicam options, hoping the premium mannequin helps it revive slumping revenue and widen the hole with struggling rival Huawei.
Samsung Electronics President and CEO Dong Jin Koh speaks throughout the launch occasion of the Galaxy Note 10 on the Barclays Center in Brooklyn, New York, U.S., August 7, 2019. REUTERS/Eduardo Munoz
Samsung Electronics Co Ltd (005930.KS) has emerged as the largest beneficiary of Huawei Technologies Co Ltd’s hassle in the second quarter with an almost 7% leap in smartphone gross sales, because the Chinese agency bought fewer telephones in the worldwide market after it was put on a U.S. commerce blacklist in May.
With emphasis on improved video and pictures options, which helped Huawei develop into the world’s No.2 smartphone vendor, Samsung hopes the Galaxy Note 10 will enchantment to YouTubers and followers of social media.
Along with its first foldable telephone, the big-screen Note 10, unveiled at an occasion in New York on Wednesday, is the South Korean tech agency’s most necessary new product deliberate in the second half of this 12 months to increase its cell gross sales.
With two display screen sizes of 6.Three inches and 6.eight inches, the Note 10 boasts enhanced video results akin to augmented actuality and stabilization modes, and a front-facing digicam centrally situated on the prime of the show for higher selfies. It lacks a headphone jack, a tweak Apple Inc (AAPL.O) made to its smartphones three years in the past.
The Note 10 can be bought beginning at $949.99 whereas the larger Note 10 plus will begin at $1,099. The Note 10 mannequin with 5G functionality will begin at $1,299.99.
The telephone will go on sale from Aug. 23 and sq. off in opposition to Apple’s newest iPhones, that are extensively anticipated to come back out later this 12 months.
Samsung declined to reveal its gross sales goal for the new Note collection, however mentioned it anticipated to realize greater gross sales quantity than the predecessor Note 9 fashions.
Analysts anticipate related shipments of about 9.6 million models, with value prone to be an important issue in a weak market. The world smartphone market shrank 3% in the June quarter, in accordance with analysis agency Strategy Analytics.
“It is hard to expect strong sales for the new Note with just a few upgrades in its camera features,” mentioned Park Sung-soon, an analyst at Cape Investment & Securities.
Samsung is reeling from sagging earnings in its cell division as a result of weak gross sales of flagship fashions, even because it boosted general shipments by 6.7% and stayed on prime with market share of 22% in the second quarter.
Its first foldable telephone, the Galaxy Fold, is about to go on sale from September, however analysts say headlines about glitches with pattern Folds will dampen shopper pleasure across the launch.
Reporting by Angela Moon in New York and Ju-min Park in Seoul; Additional reporting by Paul Sandle in London; Editing by Miyoung Kim, Stephen Coates and Lisa Shumaker