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Samsung Will Fight Its Handset Sales Slump With Phones Developed For India

Samsung is aware that it’s facing hard times, and it is not just depending on the Galaxy S10 to get out of its mess. It is rolling out a trio of Galaxy M-series handsets this month that are developed explicitly for “Indian millennial users,” the firm’s Asim Warsi claimed to the media in an interview. They will roll out in India first prior to a broader launch, and they will only be accessible via both Amazon India as well as Samsung’s website.

Warsi did not dive too far into details, but claimed that the handsets will have a price tag between Rs 10,000–20,000 (almost $142–284) and would have functions that don’t always make their way to low priced handsets, such as fast charging and beefy batteries. Previous leaks recommend that the Galaxy M20, M10, and M30 might employ newer mid-tier Exynos 7-series processors, include minimum one model with a huge 5,000 mAh battery, and sport “waterdrop” notch screens.

On a related note, Samsung Electronics earlier claimed that it will cancel 4.9 Trillion Won (almost $4.4 Billion) worth of its stakes. Anticipated to be concluded soon, the cancellation was the 2nd phase of its earlier declared plan to cancel all of its treasury stakes in two phases to improve value of shareholders. The first phase was cancelled in May 2017, it claimed.

The South Korean tech behemoth in 2017 refused pressure from Elliott (US activist hedge fund) for a major renovation of its complex structure, but accepted fraction of the fund’s proposals by disclosing plans to cancel its current treasury stakes by this year. The cancellation declared last week comprised 81 Million in preferred share and 450 Million in common share, the firm claimed to the stock exchange in a filing.

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