Samsung chases innovation

At the top of the electronics world, Samsung is now mapping out how to survive the impending competition from low-cost competitors. After years of “fast following”, the company now leads the pack in many parts of the industry and is looking to innovation to continue to drive growth and returns.

This Bloomberg article discusses successful transformers (in the auto industry and Sony), the push by Samsung Chairman Lee Kun Hee to promote innovation and the growing threat of Chinese competition.

While Samsung has started to take gambles – most notably with its new smartwatches that it released before Apple’s expected iWatch and with its larger phablets in Asia – it has come to the conclusion that it must accelerate its innovation or risk losing out to low cost competitors .

 

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