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SAMSUNG ELECT LTD (F) (SSNLF) Teasing Apple Inc. (AAPL) With New Payment System and Galaxy S6

SAMSUNG ELECT LTD (F) (OTCMKTS:SSNLF) has for some months been on the back foot in the smartphone space with Apple Inc. (NASDAQ:AAPL) taking all the credit with iPhone 6. The South Korean company finally unveiled its latest Galaxy S smartphone, which it hopes will result in a disruption effect of the space especially in disrupting Apple’s market share. During an interview on CNBC, Frost & Sullivan, Marc Einstein, said Samsung new phone does help secure some loyal base but won’t persuade people who bought iPhone 6 to jump ship.

Apple (AAPL) Logo

The new Galaxy S6 smartphone with curved edges is an attempt by SAMSUNG ELECT LTD (F) (OTCMKTS:SSNLF) to disrupt the smartphones arena that has been dominated by Apple Inc. (NASDAQ:AAPL) for some months. The phone is also expected to reverse plunging smartphone revenues that have engulfed the giant smartphone maker.

“I do think that from a design perspective Samsung did do many things correct; they tried to address the battery issue. The camera is better the curve screen is interesting; the apps are more useful and helpful. I think this doe’s help secure Samsung loyal base,” said Mr. Einstein.

Samsung’s new smartphone is to come with new inbuilt technology such as wireless charging as a standard feature with non-removable batteries to keep the phones slim. The company also affirms that when charged for ten minutes one stands to enjoy up to four hours’ worth of charge.

Samsung is also flexing its muscles as it seeks to battle Apple Inc. (NASDAQ:AAPL) on the contact less payment system with the unveiling of an inbuilt payment system.   Security issues should be a point of concern with the new system according to Einstein in the wake of Sony Corp ADR (NYSE:SNE) being hacked.

SAMSUNG ELECT LTD (F) (OTCMKTS:SSNLF) was the king of innovation in the hardware front for quite some time. In the recent times, Apple Inc. (NASDAQ:AAPL)  seems to have gained an upper hand that Einstein believes will be quite hard for the Korean company to catch up on, seen by it copying Apple on the contactless payment system.

“I think that payments are a very exciting business Apple Pay for example is accepted by about 8% of major retailers in the United States. Apple Inc. (NASDAQ:AAPL)’s own in-store payment system only about 2% are coming from Apple Pay. So there is a lot of growth in the market but again Apple is 18 months ahead of them and in a market like that is going to be very-very challenging from Samsung,” said Mr. Einstein.

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