Samsung Elec sees green shoots in China smartphone business: co-CEO

SEOUL - Samsung Electronics Co Ltd said on Wednesday its new Galaxy flagship smartphones were selling well in China and it was confident it could reverse the recent slump in its fortunes in the world’s biggest smartphone market.

Samsung’s market share has plunged from about 20 percent in 2013 to less than 1 percent currently as fast-growing Chinese rivals such as Huawei Technologies Co Ltd proved more agile in responding to the latest trends. “I think our flagship and mid-price models, these two products will bring a lot of change to the China market ... I am positive.”

The South Korean tech giant is pinning its hopes for a fight-back on its latest handset featuring a big, bending screen and the first 5G connection in a premium phone, a feature analysts do not expect Apple Inc to match until 2020.The upbeat outlook for mobile devices in China contrasts with the company’s more pessimistic take on 2019, with trade tensions, weak economic growth and softer demand for memory chips expected to weigh on operations.

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