Tag: samsung electronics

New payment services are being launched throughout Asia

Competition in Asian mobile payments space is heating up. Samsung Electronics, one of the world’s largest mobile device makers, has announced that it will be launching a new payment service in the near future. The company has partnered with Yelopay and six of South Korea’s commercial banks for the endeavor. The new service, dubbed Samsung Wallet, is expected to be made available by the end of this year and will come pre-installed on all of Samsung’s new Galaxy devices.

Samsung Wallet is expected to see a limited release by the end of this year

The Samsung Wallet will support peer-to-peer money transfer as well as allow users to make payments at participating retail locations. There will be no commission charged on transactions made through the new service, which may make it quite popular among businesses looking to involve themselves in digital commerce. Samsung wallet is being designed to support both online and offline payments as well. While the Wallet service is slated for an initial launch at the end of the year, Samsung has not yet detailed a full timeline for commercialization.

LINE looks to break into the Japanese mobile commerce market

In Japan, mobile service provider LINE is planning to launch its own payment platform with the help of Naver, the country’s largest Internet service provider. The new service, called LINE Pay, is meant to be incorporated into LINE’s existing mobile messenger platform. The service will support mobile payments for digital purchases, as well as banking transactions.

Small companies may find it more difficult to compete in the payments space in the coming years

Mobile commerce has been particularly popular throughout Asia, where the demand for new payment services has been on the rise for some time. Consumers have become quite comfortable with the concept of shopping for and purchasing products with their mobile devices, and many companies are beginning to take steps to provide these consumers with the services they want to use. It may become increasingly difficult for small companies to find traction in Asia, however, due to the increasing number of large companies, like Samsung, looking to break into the digital payments space.

The largest smartphone manufacturer in the world won’t be spending as much marketing over that channel.

It has recently been revealed that Samsung Electronics, the biggest smartphone maker on the globe, has decided that it won’t be spending as much money on mobile marketing throughout 2014.

This decision has come as a surprise to some as mobile devices are a primary focus of the company.

The reason that was given for cutting back on the mobile marketing budget at Samsung, this year, is that the company plans to reduce that spending in a way that directly reflects its revenues. This, following a massive amount of spending during the fourth quarter during its tremendous promotional campaigns throughout the hot holiday shopping season.

That said, this doesn’t meant that Samsung will be ceasing its mobile marketing, only cutting is budget.

There are other advertising and promotional opportunities that are specifically being leveraged at the moment and that are cutting into the overall budget of the company. For that reason, some changes needed to be made this year to carry them through based on the revenues that are expected throughout that time.

For instance, according to Kim Hyunjoon, the senior vice president at Samsung, the company plans to “actively leverage global sports events such as the Sochi (Winter) Olympics” as well as their channels through retail. However, at the same time, they are working to “try to raise the efficiency of our marketing spend and lower our overall mobile marketing budget to revenue this year compared with last year.”

Kim Hyunjoon made this announcement to analysts as Samsung was releasing its earnings figures. Last year, the company had run a number of exceptionally large campaigns, particularly in the last part of the year. This came as a part of a number of different strategies and often coincided with the launches of a series of new types of mobile devices and gadgets that the company has to offer.

The company does intend to continue with a mobile marketing strategy this year and will maintain its reflection of the earnings it plans to bring in through 2014.