Topics

AEG
Samsung sales plunge despite rewards aimed at smartphone owners
Samsung sales plunge despite rewards aimed at smartphone owners

With smartphone buyers increasingly choosing iPhones or lower-cost options over its devices, Samsung Electronics has been hammered this year. The latest news on Wednesday showed operating profit fell more than 60% to $3.9 billion in the third quarter compared with the same period last year, its lowest mark since the days of the iPhone 4 in 2011. Shares of the electronics maker have fallen more than 23% during the last three months as the company forecast gloomy days ahead for its smartphone business. The stumble comes despite the South Korean company’s attempt to do more than any of its competitors to offer freebies to high-end customers in hopes of maintaining their loyalty....

Loading