The Internet of Things Despite its indisputable success in smartphones, Samsung

Question

The Internet of Things Despite its indisputable success in smartphones, Samsung knows that that success can be short-lived Although it still maintains the lead in the market, Samsung's fortunes have waned in the past year as the latest renditilon of the IPhone cut its market share in China in half, reducing its global market share to 25 percent. In a saturated and cut-throat market, Samsung knows that future growth will not come froma bigser, better smartphone. Rathet, Samsung is again shilfting its strategle direction. Samsung wants to take the lead in "the Internet of Things-a global environment where all electronic devices, appliances, vehicles, and even static items such as clothing will be digitally connected with each other, with the people who use them, and with the companies that make them. In recent years, Samsung has quletly gone about creating a foundation for establishing an interconnective web between all of its products and linking them with the rest of the world. It already makes products in just about every imaginable category of home devices. Not many years ago, It dove into semiconductors a business that has been growing rapldly for the company in terms of size, Innovation, and profitability. And last year, it purchased SmartThings, a smart-home start-up company. But at the recent Internet of Things World event in San Francisco, Young Sohn, Samsung's chief strategy officer, blew things wide open. He unvelled a plan that makes Samsung's intentions clear. The company is committing a funding pool of $100 million to start-ups that want to help build the ecosystem. Committing to a policy of openness and collaboration, Sohn unveled a new line of semlconductor chips -state-of-the art processors that combine hardwaze and software-that are now avalable for sale helping companies large and small quickly and easily build Internet-connected devices. And to meet wtat It expects will be enormous demand for these and future chips, Samsung is investing $14 billion in a massive semiconductor manufacturing complex. To accompläsh its goal of becoming a leader in the Internet of Things market, Samsung is taking on its biggest challenge yet. For starters, this shift in strategy broadens Samsung's list of competitors from an

Explanation / Answer

1. The journey of Samsung from the copycat brand to an innovation leader is follows may challenges and hurdles. The company despite of success in the Smartphones, have the faith that the success is short lived which has to be maintained in the market. The company’s share was cut down worldwide so they know that bigger or better smartphone may not work in the market. Hence, they have taken the lead in the market by taking a strategic decision to grow in the field of Internet of Things. They dove into the semiconductor business which grows the company in terms of size, innovation and profitability. They also purchase the SmartThings, a home start-up company. They pooled the money for the development of eco system. They have the perception of leading in the Market so they took the different path of innovation in varieties of product ranges.

2. In recent years Samsung achieved its goals in the market where it had little presence such as smartphones as the company changes the line of product innovation from the smartphones to the Internet of Things. The company take the lead role in the Internet of Things. They have grown by establishing a interconnective web with all its product and connecting them with the rest of the world. They work on manufacturing the semiconductor chips and connects them to the products categories which has been offered by the other companies without standards. This attracts the other company moving towards the Samsung as for the interconnectivities. It enhances the business and achieve the goals of the company.

3. The challenges do the Samsung faces with the such as diverse product portfolio as follows:

This benefits the Samsung as the company plays alone in the Internet of Things market. They develop their own ecosystem. This motivates the company and shown in the financial performance of the company. They have built the Artificial Intelligence technology from the Internet of Things devices data as far collected.

4.Yes, the Samsung’s current and future strategy customer focused because they work for the home appliances devices. They change the business line from the smart phone to the Internet of Things. Here they connected the all the products of the company. This would help the company to connects the customers of other products too. The products such as smart homes, cars, and wearables used by the customers and the data has been captures from them to develop the Artificial Intelligence which would benefits the user itself. This would make the process easier than before.

5.Yes, Samsung be successful in achieving its goal of becoming a leader in the internet of things market as they develop the new devices and Artificial Intelligence technology in the various products and lead in the market. They grow financially, innovatively and in the market size and customer base. They developed the semiconductor chips in the market which connect the devices more easily. It helps to develop the new technology.

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