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Samsung planning on reducing phone portfolio by 30% in 2015

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Looks like Samsung is feeling the pains from its losses.

Samsung investors are calling for some changes to get the company back on track. The Korean smartphone manufacturer maintained above 15% operating profit margins for 10 consecutive quarters, but saw that number fall to 7% in Q3 2014.

As a result, Samsung head of investor relations, Robert Yi, announced that they are making plans to cut the number of smartphone models they produce by 25% to 30% in 2015. No information was released as to which phones will be cut, but it is believed that the company will focus on the entry-level to mid-range phone segment.

Samsung’s profits has been hurt by rising Chinese phone manufacturers like Xiaomi and Huawei. The former, particularly, was able to unseat the Korean giant as the number one phone of choice in China.

Source GSM Arena

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