It doesn’t matter how aggressively Samsung retorts to challenge reports by analysis firms reporting it losing its stronghold in the market; reality cannot be concealed for long. Unfortunately, the company is currently in hot waters and is suffering a financial setback.
As per a developing report by Reuters, Samsung Electronics will freeze the salaries of their employees this year, as per a statement by the spokeswoman of Samsung. It is the first time the South Korean organisation has taken such a step since 2009. The company representative didn’t throw light on what made the company take such a drastic step.
Today began with a news that could have been the cause of jubilation at Micromax’s office but would bring gloom to Samsung’s. Research firm Canalys had reported that Samsung was pushed off from the top spot by Micromax in the fourth quarter of 2014. But Samsung has now hit back at the report quoting data from market research organisation Gfk group.
Samsung has said that according to the Gfk data, its volume market share in the October-December 2014 quarter was 34.3% whereas the value market share was 35.8%.
[quote text_size=”small” author=”Asim Warsi” [...]
A few months back, Samsung got its first jolt in rating when Xiaomi kicked it from the top of the podium to second spot in China. A few days later, Samsung was overtaken in the Indian market by the homeboy Micromax in Q2 2014. Samsung denied the news and said that it was still at the top. Well, seems like Samsung’s woes have not finished yet.
Market research firm IDC is reporting a drastic fall in Samsung’s market share. At the same time, Micromax is showing positive gains. While Samsung slipped from 29% market share to 24%, Micromax gained a healthy lead of 2 percent and went from 18% to 20%.