Earlier this month we reported on Samsung's profits falling 47% this past quarter and their admission that Apple's strong competition played a role in their bad quarter. They even noted that they lacked momentum going into the fourth quarter. Today the Korean press reveals that Samsung's overall business plan that they set out four years ago has become a disaster. The press specifically stated that Samsung's new businesses are falling like dominoes and then gave us an overview of the damage.

Samsung Electronics recently told its clients in North America and Europe that it will shut down its LED business in these regions. The company has maintained its overseas LED sales networks on an OEM basis as parts of its Consumer Electronics (CE) Division. However, it made this new decision based on its determination that the business does not ensure sufficient profitability in developed countries dominated by companies like Philips and Osram, and Chinese manufacturers increasing their presence in emerging markets.

The Samsung Group selected LEDs, photovoltaic cells, automobile batteries, medical devices, biotech, and medicine as its new growth drivers four years ago and has concentrated its investment in those fields. However, its photovoltaic and automobile battery businesses have failed to gain momentum. Samsung Electronics sold its photovoltaic cell business unit to Samsung SDI for 161.3 billion won (US$153.5 million) in July 2011. Samsung SDI has never disclosed the sales of the business unit, either.

In the car battery sector, Samsung is falling behind LG. According to Japanese market research firm B3, LG topped the global automobile secondary battery market in 2013 by beating AESC, a joint venture of Nissan and NEC, while Samsung SDI ranked fourth behind Panasonic.

With Apple's continuing innovation and strong sales of its key products, Samsung is beginning to lose its market momentum in the smartphone sector. Yet beyond that segment of the market, we're now seeing that Samsung's bigger "vision" slipping away with their new ventures falling like dominoes. It's very possible that Samsung could be in store for some rougher times ahead.

Although Samsung reportedly has several foldable mobile devices in the works that may be able to excite consumers once again, talk is cheap. Until they actually roll out innovation that consumers really want, it doesn't look good for Samsung and their shareholders.

With Apple's new iPhone 6 Plus phablet now attacking their flagship Galaxy Note 4, Samsung is bound to feel the pinch on their high end devices and force them to seek out lower-end, lower margin smartphones that won't help their bottom line anytime soon.

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