The three main competitors of Samsung are Apple, Huawei, and Xiaomi. Apple is the main competitor because of its high-end smartphones and holds the second highest smartphone share in the world. Huawei competes with Samsung regarding design and the strong penetrative pricing. Xiaomi offers great competition because of its large customer base in China and India ( Glowik, 2016) . Some of the new strengths include: it’s the most successful electronics manufacturer, good customer relationship in Europe, it the largest smartphone marketer, impressive research and design, and its strong development and marketing skills. Their weaknesses include strong competition from China and apple, lack of an operating system, infringement cases, and perception that its products are of lower quality. The opportunities include the growing demand for smartphones, new technologies, growing middle class, and increasing online presence that may boost their sales and revenues ( Glowik, 2016) . The threats include its inability to compete with Apple regarding quality, increasing competitions, and stagnating middle class in Europe and the US.
The business strategy of Samsung has been quite effective because they have rapidly created new products annually to meet the growing needs of the society. The company has grown regarding innovation, rather than focusing on their needs, they are creating the need in the society ( Song & Lee, 2014) . Furthermore, they have a large product portfolio that addresses different needs within the society. There are various recommendations to improve the success of Samsung such as reducing their product portfolio and focusing on the main brands. They should also partner more closely with other companies in India and China so that they can fully penetrate the countries with the largest smartphone markets. The company should focus on coming up with innovations instead of just copying and reinventing features from its competitors ( Jung, 2014) . It will allow the company to boost its brand image and reputation.
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References
Glowik, M. (2016). Market Entry Strategies: Internationalization Theories, Concepts, and Cases of Asian High-Technology Firms: Haier, Hon Hai Precision, Lenovo, LG Electronics, Panasonic, Samsung, Sharp, Sony, TCL, Xiaomi . Walter de Gruyter GmbH & Co KG.
Jung, S. C. (2014). The analysis of the strategic management of Samsung electronics company through the generic value chain model. International Journal of Software Engineering and Its Applications , 8 (12), 133-142.
Song, C. Y., & Lee, K. (2014). The Samsung way: Transformational management strategies from the world leader in innovation and design . New York, NY: McGraw-Hill Education.
