The latest statistics have revealed that South Korean tech giant Samsung is slowly losing its grip on the growing Chinese tech market. This is despite the recent success of Samsung's newest flagship devices, the Galaxy S7, and Galaxy S7 Edge. Samsung's annual report shows that its sales in China have declined for the third year in a row.

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According to Android Headlines, over the last three years, Samsung's annual revenue from China declined by 18 percent, 16 percent, and 15 percent, consecutively. In 2013, Samsung held the biggest slice of China's smartphone market. However, through the years, the company has not been able to sustain its growth.

Moreover, local smartphone manufacturers like Xiaomi, Huawei, Vivo, and OPPO have taken the market by storm by releasing low-priced devices that matched, and sometimes exceeded, the quality and specs of Samsung devices released for the same price. One of the most aggressive players in the market is Xiaomi. Xiaomi's unique brand of low-priced smartphones equipped with high-end specs has appealed to the growing Chinese market.

One of Samsung's strategy to reclaim its dominance of the Chinese smartphone market is by releasing region specific devices, like the Samsung Galaxy C4. Despite the device's impressive set of specs like a metal body, the Snapdragon 617 chipset, and 4GB of RAM, the Galaxy C4 is still a bit expensive when compared to some of the flagship devices from Xiaomi and other Chinese smartphone manufacturers.

Market analysts believe that demand for smartphones in China will continue to grow. According to Phone Arena, tech companies like Samsung have to devise a unique strategy to make their devices more appealing.

TagsSamsung, Smartphone, china, smartphone sales, china smartphone sales, Samsung sales, Samsung China sales