“Samsung Electronics Co Ltd. on Thursday said it would revamp its smartphone line-up to take on competitors in the rapidly growing mid-to-low range segment, after third-quarter earnings set it on course for its worst year since 2011,” Se Young Lee reports for Reuters.
Samsung’s “market share declined in annual terms for the third straight quarter in July-September, lagging Apple Inc in the premium market and overtaken by rivals like Lenovo Group Ltd and Xiaomi Inc at the bottom end, research firm Strategy Analytics said,” Lee reports. “Executives said the South Korean giant would overhaul its lower-tier line-up to boost price competitiveness and use higher-quality components to set its devices apart, after it announced its worst third-quarter profit in more than three years. ‘The mid-to-low end market is growing rapidly, and we plan to respond actively in order to capitalise on that growth,’ Samsung Senior Vice President Kim Hyun-joon said during a conference call with analysts.”
MacDailyNews Take: Translation: Unlike Apple, we will make junk.
“Samsung said its third-quarter operating profit fell by an annual 60.1 percent… Profit for the mobile division fell 73.9 percent,” Lee reports. “Analysts say Samsung will likely have to sacrifice margins to protect its market share. Cheaper phones are expected to drive global smartphone market growth in coming years, meaning a general trend of lower average selling prices.”
Read more in the full article here.
MacDailyNews Take: Go, karma, go, go go!
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