in ,

Samsung keeps rolling out price cuts in an attempt to save itself

Samsung’s crown has been slipping in recent months, especially in China where companies like Huawei and Xiaomi are absorbing market share at a rapid pace, but Samsung isn’t just going to sit there and watch it all happen. The company already started cutting the price of the Galaxy S6 and Galaxy S6 Edge in the United States in order to boost sales, but now Samsung is taking things even further with a bunch of price cuts in China as well. Its Chinese competitors have been able to out-sell Samsung because they can provide high-end smartphones for a mid-range price, so maybe doing the same will help Samsung recover. 

Samsung Electronics and Hyundai Motor, Korea’s two major companies, have cut down their main products prices in China, the world’s largest market. This is to deal with low-priced Chinese competitors and a price-cutting race with leading global competitors. Samsung Electronics announced on Aug. 5 that it has recently marked down the prices of the Galaxy S6 and Galaxy S6 Edge by 800 yuan (US$129 or 150,256 won), respectively, in China. The price for the 32 gigabyte Galaxy S6 has been reduced from 5,288 yuan (US$850 or 993,192 won) to 4,448 yuan (US$722 or 842,936 won), while the price of its curved variant the Galaxy S6 Edge has been decreased from 6,088 yuan (US$979 or 1.14 million won) to 5,288 yuan (US$850 or 993,192 won). The price adjustments came only four months after the official release of the two flagship models in China in April. Industry watchers say that this is largely due to Samsung’s measure to reclaim its supremacy in the Chinese market. In the second quarter, Xiaomi Inc. took up the largest share of 18 percent in the Chinese smartphone market, followed by its local rival Huawei Technologies Co. with 16 percent. Despite the increase in sales of the iPhone, Apple ranked third with 12 percent. Samsung Electronics came in fifth with 9 percent, which was lower than Chinese smartphone manufacturer Vivo with 10 percent.

What do you think?

Avatar of Chastity Mansfield

Written by Chastity Mansfield

I'm a writer, an amateur designer, and a collector of trinkets that nobody else wants. You can find me on Noozeez, and Twitter.

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

A Motorola engineer used a bot to win hundreds of Twitter contests

Konami’s profits have increased by 159.9% thanks to mobile gaming