Syndicate 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.
Samsung 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.
We 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.
"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,