Breaking News

Samsung introduced its new Note 7

Will Samsung (OTC:SSNLF) be able to turn the tide in the smartphone market? Well, at least in the U.S. that is? Globally, the South Korea-based company shipped some 90 million handsets in the second quarter — 80% of which were smartphones — with an ASP of $210. This compares to Apple‘s (NASDAQ:AAPL) most recent quarter, where it sold 40.4 million iPhones, although the iOS-maker toted a much higher ASP of $595.

While Samsung may have a tighter grip over the global smartphone market, it hasn’t dominated the U.S. market in quite the same fashion. Apple, which controlled 43.9% of the market according to comScore, tops Samsung’s share of 28.4%.

For those interested, LG was third with a 9.7% share, (makes you wonder where the other 18% is spread).

Anyhow, Samsung is hoping to boost that share, as it unveiled its Galaxy Note 7 smartphone at its Samsung Unpacked event in New York. The large-screen device boasts a slightly curved 5.7″ screen and has packed in some features that its hoping will appeal to consumers. It’s got a stylus pen for its pressure-sensitive screen, retina scan and fingerprint reader, and a water-resistant display.

“The premium end of the smartphone market is the part that’s growing,” said David Lowes, Samsung Europe’s chief marketing officer. “So we took a strategic decision to focus on the premium segment with the S6 and 7 Series, and they’ve done incredibly well for us.”

So far, the strategy seems to be working, as revenues and profitability have seen a bump as a result. And while perhaps attacking the premium smartphone market is wise, it brings into question whether the company can start to erode Apple’s market share or if fighting a losing battle.

Source: Seeking Alpha