Chairman Lee Kun-hee urging Samsung to innovate ‘non stop’ in 2014
The Korean company is ready to look ahead and stand strong
Everyone has made their New Year’s resolution list and apparently, Samsung is also getting ready for a change in 2014. I bet somewhere in Chairman Lee Kun-hee’s notebook we can find ‘Get rid of old habits’ underlined.
In his annual speech, the Chairman has highlighted the past year of 2013 and how tough it has been for the company in terms of competition, so the Korean company is ready to look ahead and stand strong. Lee Kun-hee believes that Samsung is in need to move away of its old habits and look forward to new technologies and mass innovative thinking.
The research and development centre of Samsung should start working around the clock non-stop and get rid of old business models and strategies that have been around for many years with their hardware focus ways. In fact, it is the software capabilities that needs to get a major push in order for the Korean manufacturer to complete better with the likes of Apple and Google in the market.
It’s not a secret that although Samsung is the largest and best selling mobile devices company in South Korea, its strength does come from hardware whatsoever. Investors might have also felt concerned as they’ve driven Samsung’s shares down by 10% even though the company has shown earning results that easily break records.
So far, Samsung’s shares start with almost 5% drop. No matter that, Samsung seems to keep its word as in November last year, CFO Lee Sang Hoon has noted that Samsung would return to the small and mid- range business in order to help their endeavours and this is another smart move for the company that will fortify its strategy for 2014.
Either way, targeting software instead of hardware will help Samsung in the death match especially when it comes to the increasingly contextual Google and Apple that wins lawsuit after lawsuit against Samsung in terms of hardware.
Source: Wall Street Journal