Samsung Electronics’ wide product
line-up ranges from set products to components, encompassing semiconductor, TV,
and LCD and LED display. In the global market, it has been presenting a
successful growth in a tough business environment. For this reason, Samsung can
be referred to as the benchmark for companies in development of successful
business strategies.
Samsung’s sales reached a new high
in 2011 despite recession in the IT industry. It recorded KRW 165 trillion in
sales which increased KRW 10 trillion from 2010.
Each of communications,
semiconductor and TV business presented a strong performance, driving the sales
increase. Its mobile handset production surpassed 300 million units last year.
In particular, smartphone shipments reached 100 million of which Galaxy series
made a large contribution. The semiconductor segment continues to be the cash
cow for the company with improved product mix although DRAM price fell to a
record low. The digital media and home appliance business tripled in profit
earnings thanks to the popularity of LED TV.
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Samsung’s TV business enhanced
profitability by being focused on premium LED TV products and the
communications business posted a new record in terms of shipment by strengthening
smartphone product line-up.
Despite the successful results,
Samsung is placed under pressure to seek new growth engines because its current
business structure is faced with various challenges and it needs to maintain a
steady growth. To achieve the goal, Samsung will make a huge investment in five
strategic businesses by 2020. In line with that, corporate restructuring has
been conducted through merger, creation of new business segments and separation
since July 2011.
Samsung’s restructuring efforts has
three goals: first, to fill the entire product line-up with world-best
products; second, to improve relations with the global partners including Sony
and Apple; and, third, to shift its paradigm to a ‘Software Driven Company.’ In
2012, corporate restructuring will be focused on separation of set product
business and component business, enhancement of competitiveness in software and
content businesses, and preparation for future businesses.
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