It was only yesterday that we were pondering the words of an analyst who believed Samsung’s run in the mobile world would soon come to an end if they didn’t adapt to the changing times. While we’re still not willing to buy his assertion that Samsung will leave mobile in 5 years, we do agree that Samsung needs to change their strategy to keep from falling victim to the rise of a trend where cost-efficient options are drawing more dollars than those which sit on the high end of the spectrum.
And guess what? Samsung agrees, too. The company’s CEO — Kwon Oh-hyun — was speaking more about the company’s long-term sustainability in a recent quote cited by Business Korea, but it certainly applies to all facets of their business:
We should adapt ourselves to the new environment instead of sticking to our success in the past. I believe now is the time for us to turn ourselves into a first mover from a fast follower.
The CEO apparently will look toward restructuring and reorganizing their business to make it leaner and more efficient, but we wouldn’t be surprised if they eventually apply that thinking to how they handle their various product lines.
All of this is the sign of a healthy company. Samsung has the ability to see when they’re in a transitional state and can quickly draw up a clear plan to handle it. They aren’t stubborn and show a willingness to change with the fast-changing tides of the volatile industry known as technology. We’ll have to stay tuned to see what, exactly, their plans are for doing just that.