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I need help with the Milestone Two. I have attached the rubrics as well as Milestone One and teacher comments. The company I chose was Samsung. Please look at the rubrics, I’m not posting them for nothing.

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Samsung is one of the largest and most successful company’s in the world. Their key driver for success is its ability to create exactly what consumers want, how they want it. The most famous example of this is their line of Galaxy smartphones. This paper will analyze the smartphone market, supply and demand conditions, price elasticity, cost of production, and the overall market to see what actions Samsung can take to maximize their profits on smartphones. The smartphone market is constantly changing and evolving and does so at a very fast pace. It is important to keep this in mind when coming out with new products as to stay on top in the industry.

I think Samsung has an edge as a company because they are so versatile. They have products that range from smartphones to appliances. Some of the products they offer include smartphones, computers, tablets, washers, dryers, microwaves, ovens, cooktops and hoods, refrigerators, dishwashers, and even vacuums. Samsung was started by Byung-Chull Lee on March 1, 1938 in Taegu, Korea. Production of a black and white TV model begun in 1970 by Samsung-Sanyo. A few short years later Samsung Heavy Industries Incorporated was formed and production of washing machines and refrigerators began. By 1978, 8 years after beginning production, Samsung sold its 4 millionth black and white TV which was at the time the most in the world. The 80’s were very promising for Samsung. They began producing more products such as air conditioners, personal computers (PCs), VCRs, video tape recorders, as well as Samsung BP Chemicals being founded. In 1982 Korea Telecommunications Corp became Samsung Semiconductor & Telecommunications Co. and by 1988 Samsung Semiconductor & Telecommunications Co. merged with Samsung Electronics. The development of the mobile phone handset was complete in 1991, and the mobile phone system in 1992. Also in ’92, Samsung began manufacturing in China. From ’94-’96 Samsung began developing the first four-power zoom camera, and was able to develop the world’s fastest CPU. In 1999 Samsung developed its first wireless internet phone otherwise known as its first smartphone. The first smartphone they actually produced was introduced to the world in 2001 and was the first of its kind with advanced features such as being a touchphone. With Blackberry being such a hit, Samsung released the Samsung SGH-i607 Black Jack in November 2006 – this was the world’s first Windows powered phone. Samsung’s biggest success with smartphones came with the launch of the Galaxy S2 making Samsung smartphones a competitor with the Apple iPhone (“SAMSUNG HISTORY TIMELINE,” 2015).

References

SAMSUNG HISTORY TIMELINE. (2015). Retrieved from Samsung.com, http://Referenceshttp://www.samsung.com/us/aboutsamsung/samsung_group/history/

Teacher comments:

 
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