When the lawsuits first started flying Samsung and Apple were the undisputed kings of the global smartphone market and their legal wrangles were seen as a fight for supremacy.
But that situation has changed, as developed markets have become increasingly saturated and emerging markets more competitive with the rise of Chinese manufacturers like Lenovo, Xiaomi and Huawei.
“There’s no more merit in the old strategy of expanding market share through attacks on rivals,” Kim told AFP.
Samsung’s share price closed 1.22 percent lower on Seoul’s main stock exchange after Wednesday’s announcement.
Samsung’s second-quarter net profit plunged 19.6 percent from a year ago to 6.25 trillion won ($6.1 billion), as competition from cheap Chinese phones and the strong won saw sales slump in its key mobile business.
Alarm bells have been sounding for a while over Samsung’s reliance on smartphone sales in mature markets such as Europe and the United States.
Efforts to expand sales in emerging markets, most notably China, have stumbled over the growing challenge posed by smaller rivals producing cheaper handsets.
There is a general consensus that smartphone evolution has hit a barrier that will only allow incremental improvements on existing design and technology, rather than market-changing reinvention.
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