Samsung is no longer the impenetrable fortress that sits at the top of the Android food chain. While it still leads by a long way in global market share, financial reports this year have spelled out a dire situation within the company, suffering reduced profits and even being overtaken by Xiaomi as top smartphone manufacturer in China. But how bad is it actually for the Korean manufacturer? Well, it’s bad enough that several managers have returned their bonuses in the hopes of helping the company, but naturally even more steps have to be taken when “tightening the belt”.
Samsung is reportedly cutting down on costs everywhere, even targeting business trips, finding alternative, cheaper flights. It’s also rumoured that Samsung may start cuttings jobs which would target executives and sub-contractors to help streamline the workforce. This is a pretty big deal for Samsung, particularly as it seems like it’s once impenetrable lead is crumbling and competitors have shown themselves able of competing on quality and quantity. With the Galaxy Note 4 and Galaxy Alpha in the pipeline, we can only hope this is what the doctor ordered.
What do you think about reports that Samsung is having to cut costs? Let us know your thoughts in the comments.
Source: Korea Herald via Phone Arena
