Samsung may create a new premium brand to compete with Apple.Samsung is currently conducting internal research to create a new premium tech brand, according to the Korean publication
E-Today.The company believes that its main brand, Galaxy, which covers all price segments, has lost its "status appeal" and no longer attracts affluent customers. Moreover, Samsung is losing to Apple even in its home market of South Korea, where 64% of young Koreans choose the iPhone.
➡️ Now the company is seriously considering creating a separate premium brand to attract a new audience and become a true competitor to Apple in the market.
ℹ️ In 2015, Hyundai took a similar approach by launching Genesis as a separate brand for premium cars. This move significantly boosted Hyundai’s profitability.
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Engineering