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Samsung Corporation: Strategic Analysis

3181 words - 13 pages

IntroductionSyndicate Consulting has been working with Samsung Electronics Mobile Phone Division in developing a strategic agenda and a plan for its effective and rapid implementation.The objective of this project is to implement a series of strategic options to achieve Samsung's vision in the next 5 years, considering the current industry and economic conditions, projected market trends, and the nature of Samsung's strengths and weaknesses. The scope of this study will cover Asia Pacific.BackgroundSamsung Electronics was a financially crippled giant 6 years ago. It was synonymous with cheap "me too" TVs and microwaves. From 1997, under the leadership of CEO Yun Jong Yong, its debt shrunk from $10.8bn to $1.4bn (Source: Tech Biz research); 24000 employees were retrenched; and $2bn non-core business was sold.The vision of Samsung Electronics is:"At Samsung Electronics, our vision is to be the most valued of brands, to be the shaper of trends, and to ultimately dominate Digital Home. Our mission is to lead the trend in innovation and be there to address the market before anyone else."In the face of turbulent market conditions and changing trends, there is an urgency to reassess Samsung's profile and strategy in terms of 'strategic rethink, restructuring and repositioning' of Samsungs Mobile phone business.Our ApproachWe adopted the following approach in our study.There are 5 phases to our approach, and under each phase, key activities are outlined. We will elaborate on each key activity in the sections that follow.Market Assessment1.2Market Trends"Worldwide mobile phone sales totaled nearly 399.6 million units in 2001, a decline of 3.2 percent from 2000 sales. Worldwide mobile phone sales between 1996 and 2000 experienced a compound annual growth rate of close to 60 percent, but in 2001, for the first time in its history, the mobile phone industry suffered a drop in unit sales.A considerable bubble of unsold inventory from the fourth quarter of 2000 further depressed sales in key markets. The distributors and carriers most exposed to the inventory overhang sought out the gray market. Consequently, the Asia/Pacific region, and in particular the Chinese market, experienced what was arguably the most active period of gray market importing of mobile terminals in several years.Mobile Terminal Sales to End Users by Region -- Worldwide(Thousands of Units)2001200220032004Africa7,903.810,582.812,661.614,289.4Asia-Pacific135,475.5148,902.1165,921.2182,764.3Eastern Europe26,670.632,450.232,368.631,669.1Latin America *30,386.728,006.932,166.834,352.7Middle East7,285.39,203.511,265.312,153.5North America *89,331.498,222.2115,193.1123,827.2Western Europe115,269.297,748.0105,497.5102,738.9Total412,322.5425,115.7475,074.0501,795.2* = Includes iDENSource: Gartner Dataquest (January 2003)Post 2001, significant growth has been experienced in the mobile phone industry. There was steady growth in 2002 but in 2003 the industry rode the crest of a wave of robust...

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