Samsung was once the dominant player in China, one of the most lucrative smartphone markets in the world. The South Korean company not only lost its leading position in the country, but also saw a significant decrease in its market share there. She admitted that she had previously been unable to understand Chinese customs in the field of retail and commerce. However, Samsung has vowed to continue to strive to grow in China as a local Chinese company.
The head of Samsung's mobile division, DJ Koh, apologized to shareholders for its declining Chinese market share at its annual shareholder meeting. He said that China is a difficult market and that Samsung is now trying different ways to get new customers there.
It is very important for Samsung to return to the leadership position in the Chinese market. However, its share fell below 2% in the fourth quarter of last year. In fact, none of its phones made it to the list of best-selling smartphones in China for 2017, with Apple and local producers.
In September last year, Samsung decided to make organizational changes in its China division to revive its growth in the country. He streamlined operations and replaced executives.
The company said it started selling its latest flagship in China two weeks ago Galaxy S9. It has set a strategy to target customers who are willing to buy premium phones. Additionally, the South Korean giant has partnered with local service providers such as Mobike, Alibaba, WeChat, Baidu and others to enhance AI features and other IoT-based services in the country.
Of course, it can be seen that the measures have paid off. China's smartphone market is indeed huge, but Samsung will be able to regain some of its lost share, thereby consolidating its position in the global smartphone market.
Source: The Investor
