Samsung Electronics Co. Ltd, a South Korean group established way back in 1969. Initially the company was known mainly for the consumer electrical appliances including televisions, calculators, air conditioners, washing machines and refrigerators. The Company is known worldwide as the world’s largest LCD panels maker since 2002, the world’s largest television manufacturer since 2006
In recent years the company entered into the segment of mobile phones and smartphones and is known as the world’s largest manufacturer of mobile phones since 2011. In present market where improvement or diversification are the only two options for survival, the strategy of diversification worked well in case of Samsung with the mass popularity of its Samsung Galaxy line of devices. Samsung launched its first handset in 1988. Though sales didn’t pick up initially owing to poor quality and inferior products.
First in the year 2007, Samsung beats Motorola to become the world’s second largest mobile phone maker. Samsung has always focused on innovation in its management strategy. The year 2012 brings the great news for the Company when it surpassed Nokia to become the highest selling mobile phones company by selling 93.5 million units as compared to 82.7 million units of Nokia.
The launch of Samsung series of Galaxy devices, gave Samsung a record hit stability in the area of smartphones and it became the largest smartphone seller beating Apple in worldwide smartphone sale in the third quarter of 2011 with the total market share of 23.8% and the year 2012 titled Samsung as the world’s largest cellphone maker with the sales of 95 million smartphones in the very first quarter. The Galaxy S today is considered a direct competitor of Apple iPhone.
Owing to the sale of lower priced handsets in markets such as India and China- Samsung was able to achieve record breaking earnings in the third quarter of 2013 and booked an operating profit of 10.1 trillion. The middle class consumer based in developing markets such as India and the Middle East welcomed the lower priced smartphones launched by Samsung.
Mr. VinnetTaneja, country head for Mobile and Digital imaging Business at Samsung India (P) Ltd. Shared In a candid conversation that India has still got a huge potential in the smartphones category. Demand from youth in India is the driving force for Samsung smartphones sales pick in India. Samsung is concentrating heavily in this segment and with the right move and right analysis based on global portfolio is able to gain a leadership position in smartphones sales in India.
Well the year 2014 is surely going to be a test for Samsung, we believe as long as India’s youth is fascinated with technology Samsung will shine with Samsung Galaxy series!!
Pl. visit “Tech Gadget” for a view of Samsung latest products!