Samsung has revealed that it is planning to reduce the size of its smartphone portfolio next year in order to cut costs as it attempts to fix the declining profits. The company, last month, had reported a sharp 49 percent drop in Q3, 2014 net profit.

Samsung’s head of investor relations Robert Yi stated as a part of a presentation in New York that the company will cut the number of models in its portfolio about 25 to 30 percent in 2015. He did not say which models will be part of the reduction or whether the company will just launch less phone than previous years.

“Having fewer models will allow Samsung to better manage its inventory and supply chains, analysts say, at a time when demand for its Galaxy smartphones is waning,” wrote WSJ in a report.

To remind you, at this point, Samsung’s smartphone portfolio is a mess and includes an unknown but huge number of smartphones. The company typically, over the year, releases several variants of its smartphones, which often become confusing not only for the consumers, but also are a problem the company in managing inventory and supply chains.