Samsung announces new models to challenge competition

|About: Samsung Electronics Co., Ltd. (SSNGY)|By:, SA News Editor

Samsung (OTC:SSNLF, OTC:SSNGY) is planning a few new global smartphone launches to retrieve its lost market share and make up for its first quarterly net loss in almost three years.

Two high-end smartphones releases are planned within the next six months. "One model will have a large screen while the other will be built using "new materials", says SVP Kim Hyun-joon.

The company will also introduce new mid-to-low-end models to counter low-cost Chinese competition.