Smartphone is now a must-have item for people. Not just for communication, smartphones are now used for payments, bookings, and social media. It’s even used for creative activities such as writing, drawing and even composing music. Apple Inc. and Samsung Electronics are now the biggest companies in the industry.
Once the biggest phone maker company in the world
Originated in Suwon City, South Korea, Samsung goes beyond Asia and used all over the world. Not only smartphones, the company also produces other electronic devices. Television, fridges, oven, microwave, hairdryer. Search for any electronic devices you know and you’ll probably find Samsung’s products among the top.
Samsung is one of the pioneers of smartphone production. It released the first line of Samsung Galaxy series in 2010. And within two years, the company overtook Nokia for the biggest mobile phone maker in the world. Even though Nokia has had the title for more than 14 years since 1998.
With Samsung Galaxy series, the company grew fast on international sales. Obstacle came when Apple Inc. claimed the South Korean company has violated six of its’ patent. Samsung was fined $1.05, $2.5 billion less than requested by Apple Inc. Yet it went on steady still.
Samsung’s upcoming dark age
However, the future might be going dark for Samsung. Along with the announcement of fourth quarter operating profit in 2018, it admitted the expected loss of profit. Decreasing demand of smartphones is said to be the main factor. But the competition from Chinese companies is also a big concern.
Even with the high quality and high-end design, Samsung smartphones are no longer favored. The price is too high, compared to Chinese smartphones with the same specs. Chinese smartphones are more affordable but not that lacking in technology.
The might-not-work-well solutions
The now 80-year-old company is gearing up for some solutions. The first one is by launching its’ more affordable smartphone series in South East Asia. It also has released the 5G technology, together with other South Korean companies. Folded smartphones are up to release also.
But with the new techs, Samsung is predicted to set a high price. And it’s not impossible to copy the new techs. Within months, Chinese smartphone maker companies will have the techs in their hands. Then they will sell it in price a lot lower than Samsung’s. So Samsung will have to think of another breakout just about now.
