Samsung and Apple - Article Example

Making a success in a highly competitive market can be the greatest challenge, especially when the competitors include the biggest players in the industry. Such is the situation that Samsung has faced in the past as the organization struggled to establish its roots in the smartphone market, which by then was dominated by Apple. Currently, Samsung has its dominance established in the technological market by becoming the world’s largest company by revenue. One of its greatest achievements of Samsung is being the current leader in the market scope, with Apple coming in second (Nisen). A number of strategic factors have contributed to Samsung’s increased success and dominance in the technological market. First is that Samsung is an ultimate fast follower. One successful strategy devised by Samsung in achieving success is the ability to learn from competitors and make innovations in its products and services. The competitors’ products, Samsung has understood the market demands of the products and designed improved versions of competitors’ products thereby, capturing new markets (Nisen).

The second strategy for Samsung’s success is its spending on research projects. Whenever funds are available, an organization needs to spend much cash on researching new ideas for improving technology. As such, Samsung currently spends 5.7% of its revenue on research projects as compared to Apple's 2.4%, a factor that has contributed to its speedy success (Nisen). Samsung is not only a smartphone-maker, rather, a manufacturer and the world’s largest chipmaker. Such a contribution enables flexibility in product production, and, therefore, makes Samsung one of the greatest innovators in the technological industry.