(Fortune) – In an effort to boost slumping sales, Samsung plans to cut prices and launch a new model with a larger screen later this year.
In a sign of what some will undoubtedly consider desperation, Samsung will soon lower the price of its flagship smartphones. The South Korean company said as much in its second quarter earnings report on Wednesday. Well, to be exact, the company said it would begin “flexibly adjusting the price of the Galaxy S6 and S6 edge.”
The concession comes weeks after the company lowered analyst expectations and blamed lower-than-expected sales on miscalculating demand for the S6 Edge—a device with an innovative, if not gimmicky, curved screen on either edge. Samsung officials said it’s now able to meet demand and has addressed supply issues for the mobile device.