Samsung Company Profile

705 words | 3 page(s)

Company Overview
Samsung Electronics operates as a multinational company that specializes in information technology, consumer electronics, business solutions, and mobile communications internationally. Samsung Electronics was founded in 1969 in Suwon, South Korea. The organization was established to initially operate as a subsidiary of Samsung Group. The firm later grew to offer a broad range of services, which have propelled it to a global player in the recent years.

Products and services
The organization manufactures, sells, and develops a variety of consumer products, such as tablets, mobile phones, televisions, DVD players, Blu-ray players, digital cameras, camcorders, and home theatre systems. The corporation also deals with diverse home appliances, including air conditioners, refrigerators, washing machines, dishwashers, and ovens. In addition, the firm engages in the development of personal computers and its peripherals, including tablet PCs, monitors, notebooks, printers, computers, notebooks, optical disc drives, storage and memory products, and other accessories (Jung, 2014). Also, Samsung electronics specializes in the development of diverse medical and healthcare equipment that comprise of digital X-ray, ultrasound, as well as in-vitro diagnostics. On matters related to telecommunications infrastructures, Samsung electronics deals with enterprise and wireless network systems, smartphones’ standalone mobile APs, smart card ICs, display drivers, CMOS image sensors for mobile phones, OLED and LCD mobile panels. Also, it manufactures LED lighting packages that comprise of LED display modules, LED packages, LED retrofit lamps, and LED light engines. Moreover, Samsung Electronics plays an active role in hosting cyber game matches, capital investments in technology business ventures, development of semiconductor equipment, in line with sponsoring of teams and games. It also offers credit management services. Furthermore, Samsung Electronics specializes in the provision of repair services of various devices in line with operating as a general logistics organization. It also embarks on the communication system and consultation services. The operations of the company are based in areas such as Latin and North America, Europe, China, Korea, Africa, and Asia Pacific (Jung, 2014).

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Company successes in market
Samsung operates as among the most successful manufacturers of electronics worldwide. It ranks as the third biggest manufacturer of LCD panels, television, sets, smartphones, and mobile phones. It ranks as the number one mobile phone marketer worldwide while it had around 21.4 percent smartphone market share while Apple ranked second at 13.9 percent in 2015. Furthermore, Samsung specializes in the astonishing design and research capacities. It managed to establish and introduce the Samsung Pay to the marketplace. Samsun Pay serves as a mobile app having similar capabilities to those of Apple Pay. Also, Samsung has shown an impressive capacity to replicate most capabilities of both Google Inc.’s Android and Apple Inc.’s phones for its devices. Furthermore, Samsung shows strong marketing and manufacturing capabilities while it has managed to establish unending relationships with retailers based in Europe and the U.S. while offering steady sales for all the products it produces (Jung, 2014).

Areas of future growth
In the event of Samsung, it faces growing future prospects especially in the smartphone and tablet market in line with other mobile gadgets. This is especially the case for growing regions, including India and Africa. In these regions, a considerable number of consumers are not familiar with personal computers, while the rising consumption of smartphones in the areas presents an amazing opportunity for the company to grow. In 2015, for instance, tablet sales overtook the ones of PCs in 2015. In the case of Samsung, it is adequately prepared to handle such issues, especially the growing demand for solutions offered by smartphones and tablets, including Samsung Pay, which is promising to offer clients with easy of making payments. Furthermore, the company is taking advantage of new technologies, including the wearable tech, which will complement the needs of consumers’ smartphone or tablet needs. Furthermore, in the case of the developing world, it is realizing a growing demand for consumer electronics, while Samsung serves as specialist in these areas. The company will be cable of meeting their rising needs and win their trust (Jung, 2014). In this case, it is evident that Samsung will continue realizing unending growth opportunities, hence its sustainability in the marketplace.

    References
  • Jung, S. C. (2014). The analysis and strategic marketing of Samsung Electronics Company through the generic value chain model. International Journal of Software Engineering and Its Applications, 8(12), 133-142.

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