6/22/16

Samsung to overhaul smartphone strategy for profits

Amid collapse in handset profits, firm seeks new strategy for profitability

Samsung Electronics is pursuing a new strategy to maintain its place as a competitive global cell phone maker and cope with a continued collapse in profits in the sector.

"We have been seeking growth in terms of shipments for years. Samsung is preparing for the post-smartphone era and that's why our handset unit has identified profitability as a priority over growth," an executive at Samsung Electronics said.

The executive added the strategy shift doesn't mean Samsung will let its rivals take over the company's market share.

"Samsung will keep the company-set share according to markets. We will launch promotional campaigns if we have to. But the company will be unlikely to initiate cash-intensive promotions to clear inventory and increase market share," he said.

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