Samsung Group, totally baffled by declining sales, is now trying to put in all of its best efforts to retain its falling empire. Chinadaily says that the South Korean giant will soon send a team of 120 of its best analysts and experts to China to devise a new strategy to compete with local market.
According to a report by The Chosunilbo, analysts have calculated that Samsung will soon loose its reign to the China’s home-grown market, which is emerging up at an exponential rate. As a counter move, the Korean giant will send 120 experts in early 2015 to analyse the whole situation and fight-off the local competition.
Since long, China has been working on policies to support home-grown market rather than foreign manufacturers and distributors. However, the country didn’t have enough quality manufacturers that would drift the users to home-grown products. Taking an advantage of the situation, Samsung has been ruling over Chinese markets since decades.
Xiaomi, Lenovo and other local manufacturers have now teamed up to dethrone Samsung as the primary smartphone vendor in China. Xiaomi’s smartphones sell for about half the price of Samsung’s and HTC’s flagship phones, yet the strength and versatility of its OS MIUI makes them feel like top-quality products. Above all, it offers almost equivalent specifications in terms of hardware and have been successful so far in flipping over Korean giants’ fortune. Xiaomi pushed itself up to World’s third largest smartphone manufacturer in no time, leaving Samsung dumbstruck.
A number of other reports including Beijing-based research firm Analysys International, analyst from Shanghai-based consultancy Canalys China and others also suggest that Samsung will slip down from the top spot soon. Samsung, acknowledged of its descending power, is trying every possible move to fight off competitors in this stiff competition.
Yesterday, Samsung locked down its flagship store in London in the midst of its declining sales. Samsung is indeed striving hard to survive in the cut-throat battle.