During a presentation in New York this week, Samsung’s head of investor relations Robert Yi revealed the strategy, saying that in 2015 the company will be reducing the number of smartphone models by somewhere between 25 and 30 percent.
Experts are pointing to Samsung’s Chinese competition as motivating this move. Business Insider reports that the strategy is expected to bring with it a significant increase in production inevitably resulting in lower prices for consumers.
Particularly, Xiaomi and Huawei are being singled out as significant competitors, as well as the high-end American rival, Apple, Inc. Samsung still holds the title of world’s largest smartphone manufacturer, even after a rough third quarter that saw its market share dropping from 35 percent to 24.7 percent.
That said, this expressed change in strategy, combined with Samsung’s recently announced plan to invest $3 billion in production, paints the picture of a company that is not willing to let go of its top market spot without a fight.