April 19, 2024

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[THE INVESTOR] The top brass of China’s second biggest e-commerce company JD.com recently visited Samsung Electronics’ headquarters to discuss online sales of smartphones, according to The Bell on Nov. 27.

Samsung is reportedly seeking to sell its mid-range models via JD.com, the top-selling website in terms of smartphone sales in China. The site’s annual revenue reaches 77 trillion won (US$70 billion). 

“Samsung is reportedly seeking a drastic change in its China strategy,” an unnamed industry source was quoted as saying in the report. “The Korean tech giant is likely to focus more on online sales.”

In August, Samsung streamlined its Chinese operations, combining the sales network of seven regional offices and some 30 branches into 22 offices.

Samsung, sandwiched between Apple’s iPhone and cheaper phones from Chinese handset makers, has seen its market share fall in China. Until 2013, the Korean firm topped the market with 19 percent share but the figure has plunged to a tiny 2 percent in the third quarter this year.

By Lee Ji-yoon (jylee@heraldcorp.com)