SEOUL: Samsung Electronics will use more premium materials in mobile devices to win customers and offer a wider range of connected devices after losing its outright lead in the Smartphone market to Apple.
The plan includes more smart phones with metal casings, slim designs and high-definition displays across its range of models, co-chief executive officer Shin Jong Kyun said at the company’s annual shareholder meeting in Seoul.
Samsung’s unveiling of new Galaxy S6 phones this month has spurred a stock rally on expectations the company can revive earnings and stem a slide in market share that saw Apple surge into a tie for global leadership. The devices include the company’s own processor chips and a model with a screen that stretches from the front down both sides.
“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.
Shares of Samsung rose 1.9 per cent to 1,475,000 won in Seoul. The stock has surged 8.7 per cent since showing off the S6 and S6 Edge on March 1 featuring metal bodies and a fingerprint reader. The phones go on sale in 20 countries starting April 10.
Apple tied Samsung with 19.6 per cent of the global market in the fourth quarter, Strategy Analytics said in January.
