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Samsung to cut smartphone portfolio by up to 30%

  • In a move to combat declining profit and high costs, Samsung (OTC:SSNLF, OTC:SSNGY) is cutting the number of smartphone models it offers next year by 25% to 30%. In October, Samsung reported a 49% drop in Q3 net profit.
  • The decision will help Samsung reduce its large smartphone portfolio and better compete with cheaper models from rivals, such as Xiaomi.

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