Smartphones are the latest trend in handheld devices these days. Blackberry could be considered to be one of the pioneer smartphones. There was a time that every busy executives and business owners depended on this device for the day to day navigation of their corporate lives. But since then improved and better high end phones have been introduced. A few companies have been lucky to have an upper hand in the control of the market for these devices.
Samsung is one of such companies and it’s been reported to have been dominating the market holding about 31% of the market share, reporting yearly increase of 0.8% since its inception in the smartphone business. With everyone taking an interest in owning at least a smartphone these days, it is not difficult to understand why Samsung will be taking the lead in the market. People know what features they want in their devices and so far Samsung has been able to meet these needs.
Samsung’s latest Galaxy S5 is said to be marred by a temporary ban on mobile carriers selling the devices in South Korea. It has also been off to a weak start in terms of sales and of recent the company has been reporting a decline in sales. It estimated that its operating profit for the period between January and March fell by 4.3%. They are reported to expect to post a profit of about 8.4 trillion win or $8 billion within the same period which would be significantly lower than the 8.8 trillion they won a year earlier.
The decline they have been experiencing has been attributed to the fact that their buyers are not inclined to want to upgrade or replace the devices they have so quickly especially if they meet all what they want and were also expensive in the first place. The other reason is that some low cost manufacturers are starting to make the same types of devices if not better at cheaper prices. Realistically the market is also getting saturated for these devices because there is so many of them an individual can own.
With all that said, there is the hope of Samsung being able to bounce back to regain its previous top spot with them taking certain measures to attract more buyers. Some of these measures could be reducing cost and also making products that appeal to a wider audience.