Samsung has reported that its operating profit has come down 60 percent, and income from sales is down by 20 percent, leading the company to fundamentally reforming its smartphones.
This has all been down to Samsung's most lucrative and important mobile devices business, which has been struggling to adapt to a new competitive environment.
Senior VP Kim Hyun-joon expressed his intentions to fundamentally reform the product portfolio. Seeking greater cost efficiency, Samsung will look to standardize components used across devices and will continue to compete for each price tier.
Kim admits that Samsung's high-end smartphone sales result was somewhat weak in the past quarter and the company's earnings report describes the impact of the new Galaxy Note 4 as only marginal, the report said.
