Samsung Company Analysis
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Samsung Company Analysis
Samsung Company Analysis
Samsung, one of the leading brands around the world. It sells wide range of electronic appliances and technology such as television, personal computer and mobile phone. It accounted for more than 220,000 employees across the globe with it headquartered in Seoul, South Korea (Datamonitor360). Byung-Chull Lee started his business from selling dried Korean fish with 30,000 won in 1938 under the name Samsung. According to the company record (2012), Samsung has assets value of more than 430,000 billion won recorded and net income over 20,000 billion won. With fierce competitors such as Apple, Sony and Nokia, Samsung must perform it best to secure its future. Further in this essay will be focusing on Samsung keys development to its success and SWOT analysis of this company.
There are a number of key factors that drive Samsung to this stage. Firstly, In 1969 Samsung-Sanyo Electronics was established and Samsung’s first black and white TV was manufactured. This was a significant change to the company as TV was new to the market and its future profit was uncertain. Later in 1972, Samsung try domestic production of black and white TV and it reached its 4 millionth TV in 1978. Second factor is the diversification of its product throughout 1980s. Samsung manufacture many new appliances such as air-conditions and microwaves. In the 1990s, Samsung claim to be ‘copycat’ in electronic market (Kotler and Armstrong, 2012). Even with that claim, Samsung still manufacture future to people life such as world’s first 64Mb DRAM (Dynamic random access memory) in 1992, worlds first 128Mb flash memory in 1998 and worlds first 32 GB SSDs (Solid state drive) in 2006. Last factor is its new management style. Kotler and Armstrong (2012) state that Samsung fast expansion due to Lee Byung-Chull’s management. He used what the company call “Wow test” to check product quality before it reaches the actual market.
Samsung Company Analysis
Samsung Company Analysis
Samsung, one of the leading brands around the world. It sells wide range of electronic appliances and technology such as television, personal computer and mobile phone. It accounted for more than 220,000 employees across the globe with it headquartered in Seoul, South Korea (Datamonitor360). Byung-Chull Lee started his business from selling dried Korean fish with 30,000 won in 1938 under the name Samsung. According to the company record (2012), Samsung has assets value of more than 430,000 billion won recorded and net income over 20,000 billion won. With fierce competitors such as Apple, Sony and Nokia, Samsung must perform it best to secure its future. Further in this essay will be focusing on Samsung keys development to its success and SWOT analysis of this company.
There are a number of key factors that drive Samsung to this stage. Firstly, In 1969 Samsung-Sanyo Electronics was established and Samsung’s first black and white TV was manufactured. This was a significant change to the company as TV was new to the market and its future profit was uncertain. Later in 1972, Samsung try domestic production of black and white TV and it reached its 4 millionth TV in 1978. Second factor is the diversification of its product throughout 1980s. Samsung manufacture many new appliances such as air-conditions and microwaves. In the 1990s, Samsung claim to be ‘copycat’ in electronic market (Kotler and Armstrong, 2012). Even with that claim, Samsung still manufacture future to people life such as world’s first 64Mb DRAM (Dynamic random access memory) in 1992, worlds first 128Mb flash memory in 1998 and worlds first 32 GB SSDs (Solid state drive) in 2006. Last factor is its new management style. Kotler and Armstrong (2012) state that Samsung fast expansion due to Lee Byung-Chull’s management. He used what the company call “Wow test” to check product quality before it reaches the actual market.