Samsung's Innovation Strategy in Smart Phones Market

Abstract

The Smart Phones Market has been fast evolving in terms of innovation. Samsung’s ‘Fast Follower’ innovative strategy as proved to be successful so far. However, even with higher sales in smart phones as compared to its competitor and market leader, apple, Samsung is now competing mainly on sales rather than innovation. In this study, we considered factors of innovation such as: innovative Strategy, Resources for innovation, Innovation Capabilities and Processes to analysis Samsung’s current situation. The study then looks at Samsung’s opportunity to gain Smart Phones Market innovative leadership based on the 5G emerging technology. The same factors of innovation are analyzed based on existing gaps to suggest ways in which Samsung can leverage its domination in the mobile industry patents as well as the resources for innovation to gain competitive advantage and set market standards with 5G technologies.

Keywords: Innovation Management, Innovation Strategy, Samsung

JEL Classification: M19