Samsung has watched its profits fall quite a bit in recent quarters, and while the company is still pulling in quite a bit of money, those falling profits aren’t something that it wants to see quarter after quarter. Now Samsung thinks that it’s got a plan for stopping its dropping profits.
Robert Yi, Samsung’s head of investor relations, recently revealed that Samsung will reduce the number of smartphone models it offers in 2015 by 25 to 30 percent. Yi didn’t share specific numbers or other details, but Samsung previously said that it plans to share more components across its low-end and midrange products as a cost-reduction measure.
Samsung is known for offering many, many different Android devices around the globe, a move that’s helped it to become one of the top Android manufacturers around. The company can’t keep cranking out that many devices forever, though, especially as other companies — like Xiaomi — gain more market share in places such as China. Cutting the number of products it launches throughout 2015 could help it to reduce costs and keep some more money for itself in the future.