Samsung said it overestimated smartphone demand and had a high inventory of phones in the quarter."
Seoul, Aug 1 - Samsung Electronics will launch two new high-end smartphones in next six months.
Kim Hyun-joon, senior vice president at Samsung, told investors that one model will feature a large screen, while the other will be made using new materials.
He did not elaborate further on the design, the Wall Street Journal reported.
Samsung has hinted in the past that it could use bendable screens in future devices.
The new large-screen model could be the new Galaxy Note Phablet that is due for launch later this year.
Samsung said it overestimated smartphone demand and had a high inventory of phones in the quarter.
The company also cited a weak demand in the European Union, lower 3G demand as reasons for its low earnings.