Samsung to Launch Galaxy Note Phablet in Mid-August

According to sources, Samsung Electronics Co is soon to launch a key premium smartphone model as the company seeks to replenish sales after a limped second quarter.

The South Korean company will launch a new version of its Galaxy Note phablet in mid-August. However, no official statement on the matter has been released as of yet.

Since it will be launched in mid-August, it is likely to be put in the market ahead of arch-rival Apple Inc’s next iPhones which is making itself ready for its largest initial production run for new phones so far by the end of the year, reports Reuters.

Samsung is in dire need to boost its sales after facing serious disappointment in 2014 when its annual profit hit a three year low as smartphone earnings fell heavily. Despite the recovery of the company’s sale, its second-quarter guidance of $6.11 billion operating profit fell short of market expectations following a supply shortage for the curved-screen version of its flagship Galaxy S6 smartphone.

“I don’t know how much the earlier launch will help boost the company’s average selling price for smartphones, but this suggests that Samsung will work hard to maintain its market share for the high-end market,” said HDC Asset Management fund manager Park Jung-hoon.