Samsung is one of the leading manufacturers of mobile smart phones. It captured the market worldwide and rose rapidly in very little time. But nowadays, Samsung is dampening down the expectations of its customers. Sales of its phones are continuously plummeting while other manufactures from China produce phones that are gaining the attention of the people due to their low prices and good specifications. Low-cost vendors are flooding the market, thus heating up the rivalry. Samsung profits are moving lower, making 2014 the worst year for Samsung mobile in years. The senior Vice President Kim Hyun-joon, muttered in a press conference, that Samsung is focusing more on mid-to-low budget phones in its attempt to regain the people’s interest and expectations with Samsung, but as of yet we have not seen too many quality mid or low budget phones from them. He also went on to report the 60% slump in android phones compared to the last quarter.
Keeping in mind that people are gaining interest in larger screen phones which generally cost more, many companies are coming up with modern technologies, big displays and better features and these companies are offering it all at a lesser price comparative to Samsung. This is the main reason sales of Samsung are fading fast. In my my opinion, Samsung should focus on investing in quality budget phones. It should continue to launch phones with the latest technology but work harder to achieve a more competitive price. Long gone are the days, when customers accept phone manufactures locking down phones loaded with bloatware and sell them for high prices. Now what matters is quality, features and most importantly price.
Brands like Micromaxx, Karbonn, Xiaomi and Gionee are growing and capturing the market with comparable features and accessible prices. It is the first time these brands have had the chance to outsell Samsung. Another area Samsung is lacking, is the cheap plastic look of their phones. Phones from brands like Apple and HTC look like polished gems which appeals to the customers and persuade them to buy these phones even at high prices. So in order to beat these brands, Samsung should dust itself off and come up with some better and more innovative technology, improve quality and include less bloatware all at lesser prices. Doing this will gain the customers attention and repair their brand.