Samsung Galaxy Round-Camera-Front

Samsung has reportedly revised its smartphone shipment expectations for 2014 due to increased competition and a "reduced dependence on the smartphone business," ETNews said Monday.

The smartphone giant, the most profitable smartphone vendor during the second quarter of this year,  reportedly now plans to ship 330 million smartphones next year, down from its original goal to ship 360 million devices. The company has achieved success by selling incredibly popular flagship smartphones in its Note and Galaxy lines, though it also caters to the entry-level markets with more affordable Android smartphones. It might be planning to ship fewer units if rumors of a high-end aluminum handset are indeed true; a more expensive handset may result in fewer overall sales, since fewer shoppers may be able to afford it, but a more premium device overall.

Meanwhile, IDC recently said that it projects about 1 billion smartphones will ship in 2014, which means Samsung stands to own about a third of the market if predictions from both Samsung and IDC line up correctly.