Samsung Strategies for Growth
Samsung continues to lead the market in their core businesses of smartphones and televisions. They are ranked number 1 in market share and sales (Samsung Message from the CEO, 2012). Market power was further strengthened by industry leading profitability. Market share was increased in the memory business providing through superior technology and cost savings. In order to maintain this level of competitiveness in 2013 Samsung plans to sharpen market leadership across core businesses and increase growing businesses to a full performance level. The business has also been reorganized to be comprised of 3 divisions making the business more dynamic and adaptable to change. In order to stay competitive Samsung is consistently recruiting the top talent in technology and research and development. This will be reinforced through the acquisition and creation of patented capabilities by working with outside research institutes and partners.
Samsung has established a strong brand taking home numerous awards from various consumer electronic skills and the sponsorship of many international sporting events. Through this work they have increased their ranking of the top 100 brands to number nine worldwide. Business growth is fuelled by the cooperation and trust of Samsung’s customers, shareholders and society.
Growth will be achieved in the television product category by developing emerging markets for the technology in Asia, Africa and Latin America. This will allow them to continue top global market shares in televisions at 30.56% and smart televisions at 37.22% (consumer electronics, 2012). Digital appliances will continue to grow through investment in five lifestyle research centers on several continents to develop products that are more functional and convenient. Printing solutions in 2013 will be further expanded to the B2B market in order to provide solutions for their global partners and clients. In the medical supply business the...