Samsung Electronics will cut the number of its smartphone models next year in an effort to pare back costs, amid increasing competition from lower-cost Chinese rivals.
The South Korean company would cut the number of models by 25-30 per cent in 2015, Robert Yi, Samsung’s senior vice-president, said.
“In 2015, we will lower the number of smartphone models by one fourth to one third compared with this year,” Mr Yi told an investor forum in New York.
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