From PC World: Samsung Electronics plans to cut the size of it smartphone range almost by a third in 2015 as Chinese rivals eat into its market share and profitability with cheaper devices.
The South Korean company will reduce the number of smartphone models it produces by around 25 to 30 percent, said Robert Yi, Samsung’s head of investor relations, during a company presentation in New York. A spokesman in Seoul confirmed the plan on Tuesday.
The move comes after the world’s largest smartphone maker saw its market share drop to 23.8 percent in the third quarter, from 32.5 percent a year ago, while Chinese manufacturer Xiaomi rose to third place behind second-ranked Apple, according to figures from IDC.
Market analysts say the strategy could help the company’s bottom line, at least in the short term.
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