Samsung may be the world’s largest smartphone maker, but it looking to expand its brand by investing more heavily in retail in North America and Europe.
According to the Wall Street Journal, the biggest push will be in the United States where the South Korean company will “set up 1,400 prominently displayed ‘store-in-store’ kiosks, complete with Samsung-trained staff” in Best Buys. CNET reports that the Samsung Experience stores in Best Buys will be tested for three years before they are evaluated.
The company will also triple its European retail exposure in the next few months from the 31 stores it currently has while also opening 90 branded kiosks in Canada’s Best Buys and Future Shops.[more]
The push comes as cheaper smartphone rivals continue to pop up and its own growth has slowed. In the fourth quarter of last year, Apple had 42 percent of the US smartphone market while Samsung had 26 percent, according to research firm IDC.
In addition, to help diversify its revenue streams, Samsung is also putting more emphasis into developing its software, the Journal reports. The company “is having open discussions with every top software and services company in the world, along with startups ‘that you haven’t heard of,’” David Eun, executive vice president and head of the Open Innovation Center at Samsung Electronics, told the paper.
The idea is turn some of its focus away from hardware, where it is well established, and dedicate resources to developing its software and services divisions in the hopes of broadening its brand across multiple industries.