AFP/Seoul/New York
Samsung Electronics has announced plans to slash the number of smartphone models it issues next year by up to one-third as it tries to cut prices in the face of intense Chinese competition.
The strategy, confirmed by a company spokesman on Tuesday, was unveiled during a presentation in New York by the South Korean conglomerate's head of investor relations, Robert Yi.
Yi said the company - which last month reported a near 50% plunge in third-quarter net profit following a 20% drop in the previous quarter - would reduce the number of smartphone models in 2015 by between one-quarter and one-third.
The strategy is expected to be accompanied by a significant increase in the production of remaining models that can be sold more cheaply to compete with cut-price Chinese rivals.
The recent nosedive in Samsung's fortunes followed several years of stellar growth and a seemingly endless succession of record quarterly profits driven by its all-conquering mobile unit.
Its flagship Galaxy S smartphone has suffered in the high-end market from the popularity of arch-rival Apple's new iPhone 6, while its dominance of the middle- and low-end handset segment has been challenged by Chinese handset makers such as Huawei, Xiaomi and Lenovo.
For the moment, Samsung is still the comfortable leader by sales volume, but its share of the global smartphone market has fallen from 35% a year ago to just under 25%, according to Strategy Analytics.
WiFi hubs to replace New York pay phones
Thousands of high-tech terminals offering free WiFi and other services will soon replace New York's remaining fleet of seldom-used pay phones, the city mayor said.
Mayor Bill de Blasio called the "LinkNYC" system "the fastest and largest municipal WiFi network in the world."
Up to 10,000 terminals will provide free Internet access up to 150 feet (45 metres) from hubs, which will be phased in across the city's five boroughs beginning in 2015.
Free domestic phone calls can also be made from the stations, which feature a touch-screen interface, a cell phone and tablet charging station, and provide access to emergency services.
WiFi is already available in dozens of New York parks, as well as a small part of the Chelsea neighbourhood.
