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Samsung to have under 2% market share in China

According to Strategy Analytics, the share Samsung has in the smartphone market in China will fall below the 2% mark during its forth quarter.

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The 2% share puts Samsung in the ninth spot currently, which is likely to change, as that share will drop to 1.6%. It may seem difficult to believe, but Samsung was once a big player in China not too long ago. In 2015, Samsung held a commanding share of 20%, has since succumbed to the rise of local competitors, namely Huawei, Oppo, Vivo and Xiaomi.

Lee Byung Tae, a professor at the Kaist College of Business in South Korea had the following to say:

“It seems almost impossible for Samsung to upend the Chinese smartphone market reorganized by local firms with quality products and affordable prices. Since successful Chinese firms are expanding their presence in budget smartphone markets, Samsung and LG’s global presence will shrink further unless they secure competitiveness against Chinese firms.”

According to the Korea Herald, Samsung had cut around 20,000 jobs in China amid weak sales. The company also appointed a new head in China to turn its fortune around, but how that will turn out remains to be seen.

Source: The Korea Herald

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