Samsung's strategy to remain competitive is to offer premium devices
Samsung is off to a good start this year with the recent launch of its Galaxy S6 and Galaxy S6 Edge models, but the company is aware of the stiffening competition and plans to remain relevant in the crowded smartphone market.
According to Bloomberg, co-CEO Shin Jong Kyun shared the company's plans at an annual shareholder meeting last Friday. The plan calls for the use of more premium materials to be used in its mobile devices which include metal casings, thin designs and high-definition displays across its portfolio.
Bloomberg - “Samsung Electronics aims to consolidate its leadership in the premium market and plans to newly change the smartphone line-up to strengthen competitiveness,” said Shin, who heads the mobile phone business.
In addition, Samsung will try to capitalize on new demand in the business-to-business market, smart home and health devices. To do that, the South Korean company is devoting more resources to create a future that is beyond just smartphones.
This call was made earlier this year at Consumer Electronics Show 2015 where the president and CEO of Samsung Electronics, BK Yoon, encouraged greater industry collaboration and openness to enable a more connected future built around the Internet of Things (IoT).