November 22, 2024
Samsung
Samsung cuts average smartphone prices amid escalating competition
[THE INVESTOR]
According to the data compiled by the industry tracker Counterpoint Research, Samsung Electronics saw its average selling price of smartphones reach US$247 in the April-June period, down 8 percent from a year earlier.
Samsung was the only brand in the top seven to cut the average price of its smartphones, the data also showed.
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US tech giant Apple posted an average price of US$724, up 20 percent on-year, maintaining its solid lead. Other Chinese brands followed, with Oppo posting US$275 and Huawei US$265. Vivo also outpaced Samsung in terms of the average price at US$259.
LG Electronics, Samsung’s smaller Korean rival, was in the sixth spot at US$190 in the second quarter, up 23 percent on-year. China‘s Xiamoi posted US$159, Counterpoint Research added.
Counterpoint said Chinese players have been expanding their product portfolio to cover high-end models, leading to higher average price tags.
The industry tracker, however, said Chinese companies are still competitive in terms of price, claiming Samsung and Apple should also take such factors into considerations when setting prices.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
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