With Apple smartwatches debut looming near, Samsung has suddenly hit the brakes on its smartwatches. The company has decided to shelve the release of all its smartwatches for the time being.
According to Samsung executive vice president Young-hee Lee, who was speaking to the Wall Street Journal at Mobile World Congress said, “the company has been introducing more devices than anybody else. It’s time for us to pause. We want a more perfect product.”
Samsung, in the last two years, has introduced numerous wearables, such as Gear 2, Gear 2 Neo, Gear Fit, Gear Live, and Gear S. Though Samsung blanketed the market with six wearable devices, not even one could manage to capture the market.
As per strategy analytic report of last May, Samsung managed to sell only 500,000 watches of the 7,00,000. While Pebble, the smartwatch leader covered 35% of the market, Samsung trailed behind with a meager 23 percent stake.
On the other hand, Samsung’s mobile division is showing no signs of real growth. Profits are shrinking and sales of Galaxy S5 are going downhill. However, with Galaxy S6, Samsung is doing its best, to fit in every conceivable feature into its smartphones.
Though, Samsung has decided to put on hold its release of smartwatches, doesn’t mean that the company is contemplating to exit the smartwatch category. Patents for a Samsung-designed, round-faced smartwatch have been doing rounds over the last few months. So, obviously, the company is up to something, but wants to keep its cards closer to chest as of now. Probably, the company is putting things in the backburner now, just to ensure a more strategic release.
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