A recent report from Weibo claims that Samsung is trying to reduce the next launch price of its flagship device by 10%. This could heavily encourage sales but it comes as a response to the ever evolving smartphone market. The company’s Vice Chairman Kwon Oh-Hyun discussed the stagnating smartphone business and the difficulties that Samsung needs to embrace in order to stay afloat. He mentioned that if Samsung chooses to resist this change then it will never survive as a business, and this is why it’s crucial that they adapt to these conditions. This isn’t confirmed yet and it’s based solely on market analysis as well as Kwon Oh-Hyun’s recent statements, but it seems plausible.
Samsung’s economical future seems a pretty positive one despite the market worries, with the South Korean giant reporting the first profit growth in two years. While some analysts predict that Samsung will exit the smartphone business in 5 years, those claims seem unlikely but the truth is that the market is in a constant state of change and Samsung needs to constantly adapt if it wants to survive.