Samsung Aims To Cut It’s Product Portfolio By 30% To Cut Costs

Samsung is by far one of the worst offenders when it comes to releasing too many phones in a year. In fact so far in 2014 alone, the company has released 56 different phones. Finally however they have decided enough is enough. Next year they are planning to cut down their portfolio down by 30%.

They are doing this primarily because their profits have dramatically dropped since 2012 and 2013 where they had record profits. However now with their profits taking a nose dive, it’s time to rethink their strategy. Why are their profits down in the first place though? To keep it simple, competition. With new devices being released and adopted by consumers from other OEMs, Samsung has started to fall a bit behind with a reported 49% drop in profits last quarter. 

Samsung released 56 smartphones in 2014 Image Credit: ArsTechnica

Samsung released 56 smartphones in 2014 Image Credit: ArsTechnica

Samsung certainly has some work to do to catch back up, but let’s hope for the best. The company has done some promising work with some of their most recent devices, and hopefully that will continue into 2015. What are your thoughts on this?

Via: ArsTechnica