Samsung and LG recently unveiled their latest smartphones at Mobile World Congress in Barcelona, Spain on Sunday.
Samsung launched two versions of the Galaxy S phone in which they brought Facebook founder, Mark Zuckerberg to speak about the potential of virtual reality which caught everyone’s attention to record the presentation.
LG introduced a new design to it’s G5 smartphones that allows people to replace or upgrade certain things such as the camera or audio for example. They also launched a virtual reality headset equipped with accessories including a drone controller to pair with the G5 phones.
Investors seemed optimistic about LG’s latest products, stating that they were different enough to raise sales again meanwhile were a little weary of Samsung’s offers saying that Samsung offers little and not enough upgrades.
“The Galaxy S7, however, doesn’t seem to be creating as much buzz,” Asset Management fund manager Park Jung-hoon mentioned in regards to Samsung’s newly changed version of the Galaxy S7 smartphone.
Samsung’s stock shares were down 1.3% meanwhile LG’s shares were up a good 3%. The smartphone market seems like it will decline in growth from 10.3% growth to 8.1% growth in 2016.
Samsung announced the release of Samsung Pay, a mobile payment service, to be launched in China next month. This comes about a month after Apple announced Apple Pay, which caters to the biggest smartphone market.
Samsung dropped from being in the world’s top 5 smartphone companies but is looking to reclaim a position in that list with its new easy-to-use payment system.
Overall, the challenge is to find new and innovative smartphone products/services that will stick out in the long run, or at least for a long time.