Samsung has been losing quite a bit of market share around the globe and to counter this, the company might just be taking advantage of its foothold in the Chinese market.
The South Korean tech giant is planning on releasing budget friendly smartphones to regain some form of market control around the globe. Its first place of attack is obviously the most populated country in the world, China! With competitors like Xiaomi, Lenovo and Huawei churning out budget friendly phones, Samsung has been seeing a decline in its revenues in developing countries. The company saw a 60 percent loss of profits since September last year in just China alone.
To try to counter the growing competition, Samsung will be cutting the prices of its current handsets by 20 percent in China. This is a smarter move than coming up with new phones to fight the competition. So for now, as the company works on a new line of phones, they made this decision.
Do you think the company is doing enough to save its market shares? What do you think it can be doing different?
Source: Android Authority