Samsung’s arduous change pays off

Samsung Electronics' main office in Seocho-dong, southern Seoul Courtesy of Samsung Electronic
Samsung Electronics’ main office in Seocho-dong, southern Seoul Courtesy of Samsung Electronic

Over the last decades, Samsung Electronics has been regarded as a “fast-follower” following leaders in technology businesses that the outfit is involved with. As Samsung is still heavily dependent upon quite cyclical and more volatile component businesses, conventional thought was that Samsung isn’t positioned to produce “wow” products that can shake up the market. Mentioning Samsung’s indisputable position ― top suppliers in memory chips and flat-screens ― Samsung was being treated as just a trusted parts supplier guaranteeing on-time delivery, better pricing and output commitment.

Samsung will launch its first technology foundation, which was aimed at supporting “basic technologies” with an investment of 1.5 trillion won by 2020, Samsung said. Meanwhile, it will invest 170 billion won by 2017 from this year as a plan to offer software education to 50,000. From 2013 to that year, Samsung plans to hire a total of 10,000 software workforces, according to the company in a statement. But Samsung officials say those are “small things” as the firm’s partnership with clients is entering a “new phase.”

For full article, see Korea Times.

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