Samsung has adopted a shotgun policy that aims to release more smartphones this year than last year. Reuters/Valentyn Ogirenko

Neighboring rivals Samsung Electronics and LG Electronics have reportedly adopted a shotgun policy that aims to increase their presence in the smartphone market by way of releasing more handsets this year. The move is said to be the companies’ attempt at boosting their revenues this 2018 amid tight competition.

Industry sources disclosed to Digitimes on Wednesday that Samsung and LG have shifted their focus when it comes to their smartphone businesses this year. Instead of merely relying on their high-end models to attract consumers, the two are competing in nearly all segments globally to pump up their shrinking revenues.

Thus far, Samsung and LG have released nine and eight smartphones, respectively, in the first half. For the past two years, they have only released less than 12 dozen of new handsets. With the shotgun policy, the two firms are very likely to introduce more phones in the second half of 2018. Furthermore, they have also introduced some exclusive models in select overseas markets.

Market research firms have indicated that the new policy comes at a time when the global smartphone market is heading downward. Total global shipments are down than the usual, so the South Korean companies are just looking for ways to secure their growth this 2018.

There’s also an issue with the tight competition between the firms and their competitors worldwide. Samsung’s share dipped to 22.6 percent, while LG’s share dropped to a low of 3.3 percent in the first quarter. On the other hand. Apple’s share rose to 15.1 percent, Huawei’s share increased to 11.4 percent and Xiaomi’s share doubled to 8.2 percent.

Samsung has already sent out invitations for its next Unpacked event on Aug. 9. Based on leaks and several reports, the tech giant will likely introduce the highly anticipated Galaxy Note 9 at the event, alongside other hardware products, such as the rumored Galaxy Watch. Meanwhile, LG is also believed to preparing to launch the LG V40 later this year.

As for Apple, it is expected to stick to its usual timetable for new products. The Cupertino giant is very likely to introduce its trio of new iPhones in September, alongside new iPad Pro tablets with Face ID, new Apple Watch wearables and other devices.