Samsung Electronics has taken a strategic decision to change its smartphone technology at the mid-tier segment in order to suit the requirements of millennials. Samsung is looking to bring in cutting edge features to its mid-tier smartphones, which will be launched later this year. This change of strategy comes in face of slowdown in the global handset market and Samsung is experiencing lower than expected sales from its top- tier Galaxy S9 device.
Furthermore, Samsung’s decision is further spurred by the fact that other competitors, such as Huawei, Oppo, Vivo are offering high end smartphones at relatively less price and are cannibalizing the market share of Samsung in this segment.
Taking into consideration that markets like India and Southeast Asia are growing, where consumers are buying high end devices at reasonable prices, which as a market Samsung intends to target by launching mid-tier smartphones at cheaper rates.