Samsung had itself a rough Q3 2014, reporting a pretty hefty drop in profits. Unfortunately for Sammy, it doesn’t sound like the Galaxy S5 is helping to boost its sagging income.
According to sources speaking to the Wall Street Journal, the Samsung Galaxy S5 sold around 40 percent fewer units than Samsung anticipated. In its first three months of availability, the Galaxy S5 is said to have sold around 12 million units to consumers, while the Galaxy S4 sold approximately 16 million.
The sources go on to say that the S5 did outsell the S4 in the U.S., which is Samsung’s largest market. However, the S5’s sales were down around 50 percent in China, which is Samsung’s second-largest market.
As a result of Samsung’s recent rocky profitability, it’s said that the company is considering moving J.K. Shin out of his current role of co-CEO and head of Samsung’s mobile division. If that scenario does play out, B.K. Yoon, another Samsung co-CEO, could add mobile to the list of divisions that he already heads up, which includes home appliances and televisions.
Samsung has long been one of the most dominant players in mobile, with its Galaxy S and Galaxy Note products and their wide availability helping Sammy to overtake its rivals. We’ve seen other manufacturers come up with much more compelling competition and gaining quite a bit of market share lately, though, including the likes of LG and Xiaomi.
What do you think Samsung could do to reverse its mobile fortunes?
