Samsung to slash number of smartphone models

Samsung Electronics has announced plans to slash the number of smartphone models it issues next year by up to one-third as it tries to cut prices in the face of intense Chinese competition.

By:AFP
| Updated on: Nov 18 2014, 14:42 IST

Samsung Electronics has announced plans to slash the number of smartphone models it issues next year by up to one-third as it tries to cut prices in the face of intense Chinese competition.

The strategy, confirmed by a company spokesman Tuesday, was unveiled during a presentation in New York by the South Korean conglomerate's head of investor relations, Robert Yi.

You may be interested in

MobilesTablets Laptops
27% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
Vivo X100 Pro 5G
  • Asteroid Black
  • 16 GB RAM
  • 512 GB Storage
10% OFF
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage

Yi said the company -- which last month reported a near 50% plunge in third-quarter net profit following a 20% drop in the previous quarter -- would reduce the number of smartphone models in 2015 by between one-quarter and one-third.

Also read
Looking for a smartphone? To check mobile finder click here.

The strategy is expected to be accompanied by a significant increase in the production of remaining models that can be sold more cheaply to compete with cut-price Chinese rivals.

The recent nosedive in Samsung's fortunes followed several years of stellar growth and a seemingly endless succession of record quarterly profits driven by its all-conquering mobile unit.

Its flagship Galaxy S smartphone has suffered in the high-end market from the popularity of arch-rival Apple's new iPhone 6, while its dominance of the middle- and low-end handset segment has been challenged by Chinese handset makers such as Huawei, Xiaomi and Lenovo.

For the moment, Samsung is still the comfortable leader by sales volume, but its share of the global smartphone market has fallen from 35% a year ago to just under 25%, according to Strategy Analytics.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 18 Nov, 14:31 IST
NEXT ARTICLE BEGINS

Editor’s Pick