Samsung will reportedly be putting a halt to their wide range production of smartphones and place emphasis on only the most essential devices next year.
According to Robert Yi, the company's head of investor relations, Samsung will be planning to cut down on the smartphone models that they seek to generate and distribute in 2015.
While Samsung has been deemed as one of the largest competitors in the mobile business, the company has reportedly experienced a weakening of their smartphone business in several chief markets, including China.
In the said country, tech giant Xiaomi has already significantly enhanced and widened its smartphone production and distribution. Moreover, Chinese consumers have already looked forward to Xiaomi's products due to the fact that the company offers satisfactory devices at less expensive prices.
On the other hand, Apple continues to push through with their large-screen handsets, including the iPhone 6 and iPhone 6 Plus. The phones' unique big-screen displays had once been the distinct mark of Samsung's devices.
For this year's third quarter revenues, Samsung's mobile business had been found to decline 74 per cent from last year's. The South Korean company has also expressed its concerns for increased smartphone competition from other tech giants by the time 2015 rolls in.
Due to such changes, Samsung has already stated that it seeks to bring about key changes in the company's product lineup.
An example of Samsung's wide range of products is the line of devices under its flagship smartphone, the Galaxy S5. These include the smaller version Galaxy S5 Mini as well as the Galaxy S5 LTE-Advanced for users who seek speedier Internet connectivity.
There is also the Galaxy K Zoom with a higher-quality camera for those interested in more superior photo and video capture. Finally, Samsung has also released the Galaxy S5 Active and the Galaxy S5 Sport that can endure active lifestyles and outdoor activities.
Aside from the expanded Galaxy S5 line, Samsung has also brought on more devices for the Note phablet line as well as the sleek and slim Galaxy Alpha handsets.
Taking these into consideration, the company seeks to reduce its overall costs by placing more emphasis on its fundamental offerings and the use of similar components on the upcoming products.
Samsung has not released details with regards to the actual number of smartphones that the company will be producing and distributing in 2015.
