Brief Description
Samsung Mobile Phones is a business among the five departments within Samsung Electronics. This telecommunication center produces a broad spectrum of products but majorly comprising of mobile phones and smartphones. Choi Gee-sung heads the department as its president. The Samsung Company entered into the electronics industry in the 1960s and had been globalizing its activities ever since. Measured by revenue in 2015, Samsung Electronics is the second largest Information technology company. Samsung is a public company being listed on the Seoul stock exchange forum. There is also global depository receipts (GDR) which are traded on London and Luxemburg exchange platforms.
Trend in Stock Prices
In September 2016, the company recalled 2.5 million Galaxy Note 7 after numerous complaints from its consumers on the devices exploding due to faulty batteries. This incident led to a decrease in the share prices of the company and stood at $1, 528 per share as at October 7. However, Samsung is resilient, and its continuous innovations continue to boost its performance in the market. Currently, the stock price of the firm is $2,150 per share. It thus portrays a significant growth in the value of the company.
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Recent Acquisitions and Product Development
In November 2016, Samsung made its largest acquisition ever by purchasing Harman International Industries for $8 billion. Harman is a leading company in offering connected cars, consumer cars and IOT technologies for building smart homes. Samsung's tremendous growth is attributed to its continuous innovations resulting to launching new products. In August 2017, the firm launched the SM-G9298 mobile which is a 4.2-inch touchscreen with a resolution of 1080 by 1920 pixel. The product has been a success for the company with a high purchase due to its enhanced portability and other highly valued features by consumers. The company is underway in introducing other new products such as the Samsung Flexible Flip phone and Samsung S9. The launches are a success since as at the quarterly reports of July 2017, the company had a 72% one year profit jump reaching $12.1 billion.
