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International Management:Samsung mobile company - Essay Example

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This paper tries to examine the successful strategies used by Samsung Electronics Company and the general growth strategies within the mobile phone industry. It begins by examining its initial efforts to develop competitive products within the local market, its global strategies…
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International Management:Samsung mobile company
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Download file to see previous pages The achievements of the Samsung Company were very remarkable bearing in mind that it had concentrated on home appliances as well as the semiconductor devices (Lee, 2002). When the company decided to venture into the mobile phone business, several industry-viewers observed the move as reckless and foolhardy. Surprisingly, Samsung’s venture into the market in 2003 turned out to be a great achievement. The reputation of the company changed and the profits rose drastically. In the same year, the company recorded a net profit of $5 billion and its annual sales had risen to $37.5 billion. By April the following year, the company’s market capitalization stood at $ 87.5 billion (Cho, 2002). The market statistics showed that it had beaten the Sony Company, which was the company’s benchmark at its initial stage in terms of market capitalization and revenues. This is as shown in Exhibit 1(Joo, 2003).At the moment, the exports of the company contribute to 79% of the total sales. Furthermore, the company has established its brand all over the world. In 2003, for instance, the brand name “Samsung” was ranked 25th global during the inter-brand/Business week study having recorded a steady increase from $ 8.3 billion (2002) to $10.9 (2003) (Kim & Kwon, 2007). This is evident in Exhibit 2.
Several initial viewers of the company will not agree to the fact that Samsung has achieved a commendable success in the world market. ...Download file to see next pagesRead More
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