Samsung : Company Analysis : Samsung

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Company Analysis: Samsung An Introduction to Samsung Less than ten years ago, the Korean electronics company Samsung was one of the top industry leaders in its field. According to Innovation Leaders in 2007, Samsung was once identified as one of the most cutting-edge companies in the world, ?the established leader in consumer electronics, providing a range of leading-edge premium products and, in their own words, ?leading the digital convergence revolution?? (Jones 2008). But the organization failed to make a similar list of innovative organizations in 2012, mainly because of rivalry from the Apple Corporation, the flagship brand creator of the smartphone. The smartphone is perhaps the most important device in consumer electronics…show more content…
Creating a new vision statement is an attempt to show that the organization has evolved and can meet the competitive challenges of competing with Apple and other well-known technology firms. ?This new vision reflects Samsung Electronics? commitment to inspiring its communities by leveraging Samsung 's three key strengths: ?New Technology,? ?Innovative Products,? and ?Creative Solutions?? (?Vision and mission,? 2016). The objective of this vision statement is to capitalize upon ?Samsung 's core networks -- Industry, Partners, and Employees.? (?Vision and mission,? 2016). The emphasis on newness is in part a response to criticisms of Samsung as excessively derivative. In 2015, Samsung was ordered to pay Apple $548 million ?for infringing upon a number of iPhone and iPad patents? (Heisler 2015). Since then, Samsung has been trying to demonstrate its unique capabilities as an organization to consumers and provide a distinct value proposition to be avoid being cast as an also-ran to Apple. However, all of this rhetoric about innovation must be backed with real products with a real appeal to customers. Apple continues to dominate in the smartphone market, and for many iPhone is as synonymous with the concept of a smartphone as Coke is with soda. Products and Services Samsung?s current flagship smartphone is its Galaxy phone. Despite its vision statement about innovation,
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