Samsung Electronics (OTC: SSNLF)’ mobile chief claimed Samsung (KS:005930) is “going in the right direction” in China, the largest mobile market in the world, as it attempts to increase its lagging market share by enhancing premium offerings and partnerships with local content companies. According to independent data, Samsung Electronics, the world’s largest smartphone manufacturer, is increasing …
Samsung Electronics (OTC: SSNLF)’ mobile chief claimed Samsung (KS:005930) is “going in the right direction” in China, the largest mobile market in the world, as it attempts to increase its lagging market share by enhancing premium offerings and partnerships with local content companies. According to independent data, Samsung Electronics, the world’s largest smartphone manufacturer, is increasing its single-digit market share in China by a little amount, according to TM Roh, head of mobile experience.
According to Roh, who spoke to reporters this week, “We are working to reach Chinese consumers with products that fit the China market, through software optimization that fits the China market, and I think the results are coming out little by little.” Roh stated that Samsung’s mobile division established the objective of “recovering” the China market through high-end goods and services like the new flagship foldable phones the company unveiled on Wednesday and by fortifying relationships with regional content companies. With a roughly 20% market share in 2013, Samsung was the largest smartphone vendor in China. That proportion, which fell to just 1% in 2018 and then much lower, was overshadowed by Apple (NASDAQ: AAPL) and other Chinese manufacturers like Vivo, Oppo, and Honour.
However, according to data from Counterpoint, Samsung had reclaimed a 1.1% market share by March. Roh predicted that the current trend of premium smartphone demand outpacing demand for more basic models would last for a while because “mobile users’ device replacement cycles are getting longer and longer in the global market.” I believe people have come to the conclusion that utilizing the appropriate product for a longer period of time is much more satisfying and beneficial to their experience than simply switching to a new one. Regarding the foldable phones Samsung invented in 2019, Roh claimed the company was working on a more affordable version to appeal to a wider range of customers, including those in China and India. Later on Thursday, Samsung, the biggest manufacturer of smartphones in the world, releases its full second-quarter earnings.
Risk Disclaimer:
Please note that this article does not offer any instructions or suggestions regarding investment decisions. Therefore, it is essential that you carefully evaluate your financial situation and conduct thorough analysis, or seek advice from a qualified professional, before making any investment decisions.
