After disappointing Q2 earnings report, Samsung plotting its next moveUpdated: 2014-07-10 07:01:49 KST
The future of Samsung Electronics lies in the balance and that was never more true than now.
One after another, securities firms are lowering their projections for Samsung's third quarter earnings, after the company reported lower-than-expected earnings for the previous quarter.
At least 26 securities firms in Seoul already say the smartphone maker will record an average of 8.5-billion U.S. dollars in operating profit in the third quarter, which is a drop of more than 15-percent from last year's projections for the same period.
"The third quarter projection is widely seen as the result of a slowdown brought on by the saturated high-end smartphone market which is not expected to pick up any time soon."
In response, Samsung is eyeing its next growth engine.
One of these is the Internet of Things, where various smart devices are connected through the internet using sensors on gadgets.
As a manufacturer of electronic devices, Samsung does have a strength in this field.
The company launched its Smarthome in April, which connects smart sensors in home appliances.
The service makes home automation easy with a single app that connects and controls many home appliances, from TVs and mobile devices to Internet-connected burglar alarms and light switches.
Samsung is also working to promote its health and fitness gadgets.
The Samsung Strategy and Innovation Center in Silicon Valley, U.S. presented a service in May called SAMI, a cloud platform that saves and analyzes collected data from the company's wearable devices -- the Samsung Gear and the Gear-fit.
Kim Ji-yeon, Arirang News.
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