Samsung has admitted it needs some refocusing and will cut costs by dropping the number of models it sells by up to 30 percent next year.
The company recently saw its profits fall 49 percent year-over-year for the last quarter, and high-level executives have promised investors a more cost efficient company moving forward.
Samsung offers a plethora of different models aimed at pretty much the whole range of consumers, from the entry-level to the premium but only a few models have ever been truly successful.
Over the past few quarters, the company has seen its margins slide and sales drop due to the fierce competition of lower-cost Chinese smartphone makers, most notably Xiaomi and Huawei.
Source:
WSJ
Samsung offers a plethora of different models aimed at pretty much the whole range of consumers, from the entry-level to the premium but only a few models have ever been truly successful.
Over the past few quarters, the company has seen its margins slide and sales drop due to the fierce competition of lower-cost Chinese smartphone makers, most notably Xiaomi and Huawei.
Source:
WSJ
