A Korean report published today notes that Samsung's flagship Galaxy S5 has been struggling to match the successes of its predecessor since it first went on sale back in February, and nine months on, things aren't looking much better. Thanks to declining demand in many markets, the Galaxy S5 is missing sales projections by 40%. The Galaxy S5 which was to be an iPhone 6 competitor has ultimately failed to impress consumers in China.
The report went on to state that "During its first three months on sale, the Galaxy S5 sold 12 million units. That's a pretty impressive figure for most smartphone manufacturers, but Samsung is used to a lot more; the Galaxy S4 sold around 20 million units during its first 68 days of availability. Now sales of the Galaxy S5 are decreasing in many markets. In China, demand for the Galaxy S5 has plummeted as much as 50%.
Samsung wasn't prepared for this — it expected the Galaxy S5 to be bigger than any Galaxy S smartphone that came before it — and as a result, the handset has fallen well short of the company's ambitious sales projections.
On another front, the Wall Street Journal reports today that while the shake-up at Samsung will translate into more job cuts being announced later this week, Samsung Electronics' mobile business head, J.K. Shin, the chief of the company's consumer electronics unit, B.K. Yoon, and the current chief executive for the component business, Kwon Oh-hyun, will all maintain their positions, Samsung said.
The report suggested that Samsung was hesitant at this point in time to make any drastic moves in top management while Chairman Lee Kun-hee remains in hospital after suffering a heart attack in May.
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