(Pocket-lint) - When it rains it pours, and Samsung is feeling it at the moment. Not only has the company seen its share price smashed this week thanks to strong sales by Apple and its two new iPhone 6s, but the Korean company has also announced that it is pulling out of the laptop and Chromebook market in Europe.
"We quickly adapt to market needs and demands. In Europe, we will be discontinuing sales of laptops including Chromebooks for now. This is specific to the region – and is not necessarily reflective of conditions in other markets," a Samsung spokesperson told PC Advisor.
To those that follow the PC industry the move is unlikely to come as a surprise. The company has been winding down its laptop and Chromebook manufacture for some time with no new announcements at German trade show IFA earlier in the month. The announcement also comes after Sony sold its Vaio brand and business earlier in the year. It too looked to consolidate what it offered in order to rein in spending and boost profit (something is has still failed to achieve).
What will come as a surprise is that Apple also has the ability to affect Samsung's share price so much. According to BusinessWeek, Sammy's share price has hit its lowest level since 2012 and with Apple now eating into Samsung's larger handset market - the Note range - thanks to its first phablet in the iPhone 6 Plus, there can only be more battles ahead.
Samsung's competition has been hotting up on all sides, slowly losing its moniker as the go-to brand for smartphone handsets. If not Apple, it's LG, HTC and Sony. All have all started making some inroads on the company's turf and that's without even taking into account China's cheaper offerings from ZTE and Huawei. Now it must share the Android handset market despite helping grow it to compete with a previously Apple strong area.
As a result of Apple selling a whopping 10 million iPhones in the first three days since going on sale, Samsung has brought forward the release date for its Galaxy Note 4. In South Korea at least, the Note 4 and Note Edge will be sold at 10 per cent lower prices than the Note 3 last year.
Samsung has also lowered its profit estimates for China from 5.7 trillion won to 4.7 trillion admitting that China and India's smaller, cheaper rival handsets are affecting sales.
While Apple has done well with sales of its iPhones, Samsung should still sell plenty of Note 4 handsets as it offers cutting edge technology including a 2K screen, S Pen, Snapdragon 805 processor and more.