According to the electronics giant, it was a considerable influx of competition that caused the lower than expected results.
Wall Street analysts and investors, alike, were disappointed by the technology news that was recently released by Samsung in terms of its earnings, which missed the predicted mark by a notable amount.
Now, the tech giant has announced that the reason that the earnings were not as hoped, was due to competition.
This is not the first time that the company has had to leave technology news that shows that it knows how to excel but that it faces a considerable struggle when it comes to trying to maintain a tremendous market share across a landscape that is continually growing in its competition. The South Korean electronics company has shown several times that it is strong when it comes to leading the way but that it finds the situation challenging once a range of other players start to catch up in the game.
The Samsung technology news release reported second quarter earnings for 2014 which showed a 20 percent profit drop.
This, when compared to the same quarter during 2013. The company also saw a decrease in its revenue by 8.9 percent. This is the first time that the company recorded a year over year net profit drop since 2011 in the third quarter. Since that time, it has been maintaining a steady climb in this area.
That said, the Wall Street Journal has been reporting that Samsung has every intention of bringing two new high end smartphones to the market shelves “soon”. In all likelihood, this will occur before the end of the year. The strategy will be to help to hold off any more decline in revenue or losses in the market.
According to a technology news statement made by the company, “Prospects for growth remain unclear as competition over global market share intensifies in the mobile industry.” The second quarter of 2014 saw the company’s shipments at 74.3 million smartphones, which was strikingly below the predictions that had been made by Wall Street about the device sales under that brand name.
The new chief operations officer had formerly been an exec with Sybase and then at LiveOps.
BlackBerry has now announced that it has recruited a brand new COO, Marty Beard, who had previously been the CEO of the LiveOps cloud customer service company, after having worked as an executive for a stretch at Sybase.
Beard will now be responsible for several areas, including BB10 app development, customer care, and marketing.
The new COO is not the first veteran of Sybase to make his way to BlackBerry. Most notable among the recruitments of that nature was CEO John Chen, himself, who had been the chief executive officer at Sybase before he took the same position, as well as the chairman’s seat, at the Canadian handset manufacturer in November 2013.
BlackBerry has become quite the team of alumni from Sybase, including a number of the top spots in the company.
Mark Wilson, the senior vice president of marketing, also came to the company from Sybase. He had been the head of corporate and field marketing. Similarly, Eric Johnson is now Global Sales President after having left Sybase where he had worn several hats, such as senior vice president, general manager for North America, and general manager for financial services.
The previous COO at BlackBerry was Kristian Tear. Tear left the company only three weeks after Chen came aboard, as a result of a considerable shakeup of the organization’s management. At the same time that Tear left, Frank Boulben, the chief marketing officer, and Biran Bidulka, the chief financial officer also departed.
Many industry experts are now speculating that the similar backgrounds of the new recruits to the company will be quite handy for Chen as he works to change the aim of the business to place a greater focus on its enterprise customers. The next smartphone – the BlackBerry Passport – which has already been unveiled in its prototype form, has already been making technology news with its unique square 4.5 inch screen and its return to the much beloved QWERTY keyboard. This design is meant to make it easier to view documents such as spreadsheets, which could potentially be quite useful to their primary market.
