Samsung Electronics’ future business planning department is investigating how Japan’s Sony and Hitachi have been able to revive growth in recent years after falling behind South Korean companies in the 1990s, Nikkei said. Reported.
It has been reported that Samsung has not changed its business model centered on semiconductors, smartphones, home appliances, and displays for over 10 years. As a result, all four sectors are losing competitiveness against Chinese companies.
The current crisis in Samsung’s mobile and semiconductor businesses has forced the company to reconsider late chairman Lee Kun-hee’s management philosophy.
Project “Decline and Rise of Japan’s Electrical Industry”
The Samsung Electronics evaluation project includes a detailed study of how Sony shifted its core business from electronics to digital cameras and content such as games, music and movies.
Under Chairman Lee’s supervision, the company is also researching Hitachi, which has transformed from a manufacturer of machinery and rolling stock into a technology company.
- Both companies restructured their business models after facing crises in the 2000s.
Samsung also analyzes the strategies of Japanese conglomerates such as Mitsubishi. These companies flourished as trade intermediaries until the 1990s and successfully transitioned into resource exploitation in the early 2000s.
A Samsung representative said, “We are considering more than 100 cases not only in Japan but around the world.”
The study also includes Silicon Valley companies such as Google and Amazon, which are evolving in response to a rapidly changing business environment in the age of artificial intelligence (AI).
