things you should know about samsung
Q:
What Does Samsung Do?
A:
It depends on what you mean by “Samsung.” Samsung Group, the conglomerate, refers to a constellation of nearly 70 companies ranging from electronics and construction to fashion and life insurance. Samsung Electronics, the crown jewel of the Samsung Group, has three main business lines: mobile devices like smartphones and tablets; consumer electronics like televisions and home appliances; and electronics components like semiconductors and display panels.
Q:
How Big Does Samsung Electronics Want to Get?
A:
In late 2009, Samsung Electronics said it was targeting annual revenues of $400 billion by the end of the decade. That would be nearly double current sales and make Samsung roughly the same size as Exxon Mobil was by revenue in 2014. That goal looks increasingly difficult to attain. Samsung is entering new lines of business, including health and pharmaceuticals, and has plenty of cash for acquisitions.
Q:
How Important Is Mobile to Samsung?
A:
Smartphones are Samsung’s most-well-known products, and as recently as a year ago the mobile division accounted for 76% of the company’s overall operating profits. What’s more, Samsung stuffs its handsets with lots of its own components, so every smartphone sale lets the company ring up hefty sales of parts. Competition from rival handset makers has eroded Samsung’s market share, and now smartphone profits account for less than half the company’s total.
Q:
Could Samsung Go the Way of Nokia, Motorola and BlackBerry?
A:
Probably not, say experts and analysts. Unlike those companies, Samsung makes most of the important components in its handsets, giving the company a substantial revenue cushion even if its own smartphone sales decline. Being a components supplier also gives Samsung a window into rivals’ supply chains, allowing it to spot–and respond to–new developments quickly. Samsung executives concede they became complacent last year, but the company has spent lavishly to improve handset design and manufacturing.
Q:
Who runs Samsung?
A:
For more than two decades, Samsung Group chairman Lee Kun-hee was the conglomerate’s leader, issuing sweeping decrees and helping shape the company’s long-term corporate vision. Mr. Lee has been bedridden after a heart attack last May. His 46-year-old son Lee Jae-yong is preparing to step into his father’s shoes. Other top executives include Choi Gee-sung, a group vice chairman who served as Samsung Electronics CEO for several years. Samsung Electronics currently has three co-CEOs.
What Does Samsung Do?
A:
It depends on what you mean by “Samsung.” Samsung Group, the conglomerate, refers to a constellation of nearly 70 companies ranging from electronics and construction to fashion and life insurance. Samsung Electronics, the crown jewel of the Samsung Group, has three main business lines: mobile devices like smartphones and tablets; consumer electronics like televisions and home appliances; and electronics components like semiconductors and display panels.
Q:
How Big Does Samsung Electronics Want to Get?
A:
In late 2009, Samsung Electronics said it was targeting annual revenues of $400 billion by the end of the decade. That would be nearly double current sales and make Samsung roughly the same size as Exxon Mobil was by revenue in 2014. That goal looks increasingly difficult to attain. Samsung is entering new lines of business, including health and pharmaceuticals, and has plenty of cash for acquisitions.
Q:
How Important Is Mobile to Samsung?
A:
Smartphones are Samsung’s most-well-known products, and as recently as a year ago the mobile division accounted for 76% of the company’s overall operating profits. What’s more, Samsung stuffs its handsets with lots of its own components, so every smartphone sale lets the company ring up hefty sales of parts. Competition from rival handset makers has eroded Samsung’s market share, and now smartphone profits account for less than half the company’s total.
Q:
Could Samsung Go the Way of Nokia, Motorola and BlackBerry?
A:
Probably not, say experts and analysts. Unlike those companies, Samsung makes most of the important components in its handsets, giving the company a substantial revenue cushion even if its own smartphone sales decline. Being a components supplier also gives Samsung a window into rivals’ supply chains, allowing it to spot–and respond to–new developments quickly. Samsung executives concede they became complacent last year, but the company has spent lavishly to improve handset design and manufacturing.
Q:
Who runs Samsung?
A:
For more than two decades, Samsung Group chairman Lee Kun-hee was the conglomerate’s leader, issuing sweeping decrees and helping shape the company’s long-term corporate vision. Mr. Lee has been bedridden after a heart attack last May. His 46-year-old son Lee Jae-yong is preparing to step into his father’s shoes. Other top executives include Choi Gee-sung, a group vice chairman who served as Samsung Electronics CEO for several years. Samsung Electronics currently has three co-CEOs.
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