Samsung announced that it will cut down on the number of smartphones it releases next year.
The news came courtesy of the head of investor relations, Robert Yi. He said that the company will reduce its smartphone line-up by approximately 25%-30%.
The company released a large range of smartphones this year, including the mid-range Galaxy A3 and Galaxy A5 handsets. In spite of this range, which was designed to cater to practically everyone, Samsung’s third-quarter net profit fell by approximately 49%.
Samsung is facing increased competition from the likes of Motorola, Huawei, Xiomi, and a variety of other manufacturers from developing countries. As a result, the company looks to better manage its inventory and supply chains by reducing the number of models it will release next year.
Expect to see more focus on devices like the Galaxy S6 and Galaxy Note 5. Samsung’s 2015 releases will likely depend upon handset sales for this year.