Samsung next year will reduce the number of smartphone models it releases by about 25-30 percent.
It’s unclear exactly how many models will be affected but the move comes as Samsung’s profits continue to slide in the face of shrinking demand for the company’s mobile devices.
Last quarter, profits from Samsung’s mobile devices fell to the lowest in more than three years.
In response, the company is planning to overhaul its mobile strategy in order to respond faster to industry changes and to the growing demand for low-end and entry-level smartphones in emerging markets.
Samsung’s once dominant share in China is now being eroded by upstarts like Xiaomi and established players like Lenovo.
In the United States, Samsung saw a 0.4 percent increase its share of the smartphone market, according to Comscore’s latest numbers. Samsung controls 29 percent of the U.S. smartphone market, second only to Apple, which holds 41.7 percent.