comscore Samsung to cut smartphone models by up to 30% next year
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Samsung to cut smartphone models by up to 30% next year

Samsung, the biggest Android smartphone manufacturer has announced that it would reduce its smartphone lineup offerings by about 25 to 30 percent in an effort to battle the declining profits, reports

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Samsung, the biggest Android smartphone manufacturer has announced that it would reduce its smartphone lineup offerings by about 25 to 30 percent in an effort to battle the declining profits, reports the Wall Street Journal. Also Read - Samsung's new Axis Bank credit card offering 10 percent cashback: Check details

The announcement comes from the head of the investor relations Robert Yi who revealed company’s future plans during a presentation in New York earlier today. He, however, didn’t list the models the company is planning to discontinue. The Korean technology giant has had been reporting poor profits since last four quarters. In October, Samsung reported a 49 percent drop in its third-quarter net profit. The company had maintained profit margins above 15 percent for 10 consecutive quarters, but now the profits have slid to an alarming 7 percent. Also Read - Samsung Galaxy S23 Ultra is expected to come with 25W fast charging support

The company is facing stiff competition from Motorola, Xiaomi, Gionee and several other manufacturers to sell devices in the developing regions, due to competitions’ impressive and cheap offerings. The company last month launched the Galaxy A3 and Galaxy A5 smartphones, the first phones in company’s mid-level offerings to sport metal body design. Samsung hopes that by reducing the number of models it will have better management over its inventory and supply chains. Also Read - Government wants mandatory support for India's GPS-rival NavIC on all smartphones from 2023

  • Published Date: November 18, 2014 12:08 PM IST
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