Samsung looks to life beyond the smartphone
Published on Apr 13, 2014 11:58 AM
SEOUL (AFP) - After years of record profit growth, tech giant Samsung Electronics looks to be at a commercial crossroads as it searches for a new growth driver to counter slowing sales of its phenomenally successful smartphones.
Alarm bells have been sounding for a while over Samsung's reliance on smartphone sales in increasingly mature markets such as Europe and the United States (US), and increasingly competitive emerging markets like China.
The world's largest smartphone maker has a diverse product line ranging from memory chips to home appliances, but more than half its profits are generated by mobile devices.
Last week, Samsung said it was on track for a second consecutive quarter of year-on-year profit decline, and its stock price fell nearly 10 per cent in 2013 - the first annual drop in five years.
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