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¶ … Samsung Seeks Some iPhone Magic" by Evan Ramstad appeared this week in the "Wall Street Journal." It discusses Samsung's emerging business strategy to broaden their horizons from electronics manufacturing to content, software, and other applications users can utilize on their electronics. For example, they are developing digital televisions that connect to the Internet, among other items. Other business strategies include introducing a brick-and-mortar media store in the UK, and an online media store that both deal with applications for their mobile phones.
Samsung's strategies are being developed to help compete with Apple's iPhone, which has a lion's share of the marketplace. For example, Apple offers about 75,000 different applications for their iPhone, while Samsung has about 3,000 available in its media stores. Samsung realizes they have to be more competitive, and they are using their imaginations when it comes to competing with Apple. They are allowing other developers to create software and...
They say one of their biggest problems is getting customers to subscribe to data service, however.
The article shows that business strategies have to change in a changing marketplace, and the companies that use the most creativity and imagination in their strategies are the ones that will survive and thrive in a tough marketplace. Samsung is using new, innovative technology, is changing their business model, and even created a new division to compete with Apple. Before, their goal was to create technology faster and cheaper, but that business model has broadened. Samsung's strategies seem to be a step in the right direction, and Samsung seems poised to become an even more successful company.
I'm here to talk about Samsung's changing business strategies, and why they're changing. Most of you have probably heard of Samsung electronics, but…
References
Ramstad, Evan. "Samsung Seeks Some iPhone Magic: Korean Electronics Giant Tries to Encourage 'Apps' for Its Phones, TVs and Other Devices." Wall Street Journal. 15 Oct. 2009. 17 Oct. 2009.
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