Samsung Electronics will freeze wages in 2015 for employees in South Korea for the first time in six years, after the world's biggest smartphone maker saw profits fall in the face of rising competition.
The cost-cutting move is the latest by Samsung Electronics, which in January reported its first annual profit decline since 2011, as it lost market share to Apple Inc's new iPhones and cheaper Chinese rivals like Xiaomi Inc.
Handset vendor Intex Technologies is planning to set up standalone brand stores to boost its retail presence. Called ‘Intex Smart World’, 400 stores will come up next fiscal (2015-16) at a cost of over Rs. 100 crore (USD16.1 million). Investments will be through internal accruals.
Indian budget consumer electronics firm iBall raised eyebrows this week on a report that it has stolen South Korean juggernaut Samsung's crown as India's number one tablet vendor.
Mumbai-based iBall claimed a 15.6 percent share of India's tablet market in the fourth quarter of 2014, up from 4.5 percent a year earlier, as Samsung's share shrank to 12.9 percent from 17.9 percent, according to IDC.
Upstart Xiaomi was the top smartphone company in China last year with a 12.5 percent market share, narrowly outpacing South Korea’s Samsung, market intelligence firm International Data Corp said on Tuesday.
Google unveiled two affordable smartphones in the Philippines built from the Android One program, a global initiative to bring high-quality smartphones to emerging markets.
The two phones, developed by local manufacturers Cherry Mobile and MyPhone, will retail for PHP5,000 (USD113.4) in the coming weeks.
Caesar Sengupta, Vice President, Product Management, Google, said the Philippines is the sixth country in Asia where the Android One program was rolled out, after India, Bangladesh, Nepal, Sri Lanka and Indonesia.
South Korean electrical appliance giant Samsung Electronics introduced an extensive lineup of new products which included SUHD TVs, curved monitor, smartphone, notebook and printer at its 2015 Samsung Forum in Hong Kong last week.
Malaysian consumers just cannot get enough of smartphones; buying more of them each year to bring annual sales volume to yet another peak in 2014 at 8.5 million.
GfK retail sales tracking showed consumers buying around USD2.66 billion worth of the popular gadget between January and December last year. Total consumer spend, however, was down by 4 percent against 2013 due to the falling prices of smartphones in the country.
Vietnamese electronics retailer Tran Anh Digital World JSC said it will close its electronics supermarkets in Vincom's Times City and Royal City on February 24.
The closure was announced after Vingroup, the owner of the two retail and entertainment complexes, said it plans to occupy the rented space.
Tran Anh Digital made the announcement regarding the closures on February 12, saying it is committed to ensuring warranty and other services for customers purchasing products at the two supermarkets.
Xiaomi, the rising Chinese smartphone maker, is taking its first small step into the US market.
The company announced plans to open the Mi.com website in the US and other unspecified markets over the next few months. The site will not sell the company's popular smartphones or tablets but will carry other products, such as health bands, power chargers, and headphones.
The recent closure of a number of Topcare stores following a series of big-name shutdowns, was evidence of the fierce competition in the electronics retail market in Vietnam.
Before Topcare, the electronics market witnessed the withdrawal of Wonder Buy in 2011, Best Caring in 2012, HomeOne in 2013, and Viet Long in 2014.