Samsung Electronics says it will commence Galaxy S8 smartphone sales in Japan next month as it struggles to keep pace with Apple Inc., having lost its former place as a power-player in the highly competitive smartphone sector.
The South Korean conglomerate which has its headquarter in Samsung Town, Seoul, suffered huge losses following a massive recall of its explosive Samsung Galaxy Note 7 batteries.
Yonhap News Agency reported last Sunday that the company incurred losses which impacted negatively on the company’s global reputation and credibility.
Samsung is the only top-five smartphone maker to report a decline in shipments in the first quarter of this year. Its smartphone shipments fell to 78 million from 81 million, a decline attributed to the Note 7 debacle and stiff competition from Chinese manufacturers.
Media reports confirm that Samsung Galaxy S8 is already being sold in the United States, South Korea and China.
Yonhap said Samsung held a 14.8 percent share of the Japanese smartphone market in 2012, but that plunged to just 3.8 percent by the first quarter this year when it sold about 300,000 in Japan.
Apple’s current Japanese market share tops 50 percent, the report said.
Samsung is expected to have sold 20 million Galaxy S8 series smartphones by the end of June, and between 50 million to 60 million over a year, Yonhap reported, citing unnamed industry sources.
According to market research firm Gartner, although Samsung remains the world’s largest smartphone manufacturer, its market share dropped to 20.7% in the first quarter from 23.3% in the same period last year.