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Galaxy S20 sales reportedly off to 'dismal' start, Coronavirus to blame

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Sales of the three phones could still pick up in the coming weeks.What you need to knowA report out of Korea claims initial sales of Samsung's new Galaxy S20 series phones are significantly lower than expected.Apart from the high prices of the new phones, Coronavirus infection fears may also have contributed to the lacklustre sales.While Samsung had shifted 140,000 Galaxy S10 units on day one, it could only sell 70,800 Galaxy S20 units in South Korea on February 27.Samsung's new Galaxy S20 trio went on sale in the company's home market of South Korea yesterday. Due to a variety of reasons, however, initial sales of the Galaxy S20 series in the country weren't as high as Samsung had expected.As per The Korea Herald, Samsung sold 70,800 units of the Galaxy S20 series in Korea on Thursday, which is significantly lower than the first-day figures for the Galaxy S10 series last year. Samsung had sold 140,000 units of the Galaxy S10 series on its first da…

Arrest of Samsung’s Lee may not affect smartphone business in short term

The arrest of Samsung Electronics’ vice chairman Lee Jae-yong on Friday in South Korea may not have a direct impact on the company’s high-profile electronics business, including its smartphones unit, according to analysts.
Samsung announced in 2012 the promotion of the executive, also known as Jay. Y. Lee, to his current formal position at Samsung Electronics. But he is largely seen as the de-facto leader of the Samsung Group, running the business on behalf of his ailing father, Samsung Chairman Lee Kun-Hee.
He was arrested on charges of bribery as part of an alleged corruption scandal that led to the impeachment of South Korea’s President Park Geun-hye.