Samsung signaled Monday that it could delay the launch of its new flagship smartphone, the Galaxy S8, pushing its release closer to that of rival Apple’s (AAPL) iPhone 8.
Samsung usually has a head start on Apple, releasing its latest phones in March or April. Apple traditionally follows with its newest handsets in September. For the past three cycles, Samsung has unveiled its latest smartphones at the Mobile World Congress trade show. But not this year.
SAMSUNG MOBILE CHIEF DONG JIN KOH SAID MONDAY THAT THE GALAXY S8
Samsung mobile chief Dong-jin Koh said Monday that the Galaxy S8 will not be revealed at Mobile World Congress, which runs Feb. 27 through March 2 in Barcelona.
The announcement came at a press event where Samsung disclosed the results of an investigation into what caused a series of fires in Galaxy Note 7 handsets, Reuters reported. Samsung blamed manufacturing defects in batteries produced by two suppliers for the fires, which led to an embarrassing recall for the South Korean electronics giant.
SAMSUNG INDICATED THAT IT COULD DELAY THE LAUNCH OF THE GALAXY S8
Samsung indicated that it could delay the launch of the Galaxy S8 to ensure product quality and safety with the new handset, Reuters said.
Apple is expected to release its 10th-anniversary iPhone, unofficially called the iPhone 8, in September. That 11th-generation smartphone is rumored to feature a glass sandwich design, borderless OLED display, invisible home button and fast or wireless charging. It also might include augmented reality and facial recognition capabilities.
CFRA Research analyst Angelo Zino on Monday reiterated his strong buy on Apple stock and raised his 12-month price target to 140 from 130.
Zino upped his price target on Apple stock based on favorable expectations for the company’s fiscal first-quarter earnings report, due for release on Jan. 31.
“We see Apple aided by strong iPhone 7 Plus sales, the Apple Watch Series 2 launch, and an extra week” of sales in the quarter, he said in a note. “We see a potential ‘air pocket’ in iPhone demand due to consumers awaiting a fall ’17 iPhone release, but note favorable comps. We see robust services growth and improving Mac sales after a product refresh.”
Apple stock was flat, near 120, in afternoon trading on the stock market today, still in a buy zone from a 118.12 buy point touched this month.