(MENAFN) Samsung Electronics Ltd. has announced plans to cut down the number of smartphone models it issues next year by between one-quarter and one-third, AFP reported.
The move comes as the South Korean smartphone-maker tries to cut prices in the face of intense Chinese competition. The strategy was confirmed by a company spokesman.
The strategy is expected to be accompanied by a significant increase in the production of remaining models that can be sold more cheaply to compete with cut-price Chinese rivals.
Samsung is still the comfortable leader by sales volume, but its share of the global smartphone market has fallen from 35 percent a year ago to below 25 percent, according to Strategy Analytics.
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