Its not all smooth sailing for Samsung, the world’s largest phone vendor. The company’s profits have declined over the past year and it has even lost market share in some crucial emerging markets like China and India. For months analysts have been predicting that the company is going to bleed market share this year and Samsung itself has confirmed this. Samsung had previously predicted the possibility of its market share declining in the first half of 2014.
Samsung reported today that its market share has dipped to 24.9 percent in the first half of 2014, a 1.9 percent decline as compared to the same time last year. The company also revealed that it shipped 223.69 million units during the first six months of this year.
The company’s smartphone business also reported a drop in profits, its overall revenues declined. The smartphone business registered a 19.5 percent decline in profit which comes in at $6.11 billion, however its display, memory and other businesses did relatively well.
One of the reasons Samsung gave for the decline in market share is the rise of low-end smartphone manufacturers that are giving the company a run for its money in crucial emerging markets. However Samsung hopes to bounce back with devices like the Galaxy Note 4 which is destined to be released next month.
We’ll have to wait for a few months now to see if Samsung is able to regain lost ground, the market, analysts and Samsung’s fans will certainly be keeping a keen eye on its performance.