While Apple has updated its new phones in a classic case of product life cycle extension, the current mobile phone market is rather stagnant, as there is currently no standout phone that is the must-have purchase within the market.
Samsung has enjoyed a lot of success in recent years with its Galaxy offerings but the news from the marketplace is that these phones are starting to fall out of favour. The company announced a reduction in profits of 60% to £2.5 billion, marking its weakest quarterly profit since 2011. Sales also tumbled 20% and there are definite warning signs. Rival Android phones from Chinese producers Huawei and Xiaomi have entered the market, and these are cheaper and arguably just as good as Samsung’s offerings. Samsung will probably continue to lose market share unless it can figure out a way to once again wow consumers, who no longer appear to be impressed by its massive line-up of products.
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