PESTEL Analysis - Samsung Electronics

Extract

[...] PESTEL Analysis - Samsung A. Political As a company, Samsung is committed to complying with all of the local regulations and laws. It has a strict global conduct policy for all of its employees who it believes enables its management to ethically respond to the demands and rapid changes in the global business environment. Political stability has a major effect on how a company operates within any particular country. A company can only thrive when political conditions are conducive to its operations. [...]

[...] The brands' main competitors include companies like Apple, LG, Sony, HTC, Huawei, Intel, Electrolux, Lenovo, Panasonic and Whirlpool. In 2019 the combined total revenue was $ 743.16 billion and they cumulatively employed more than 1,060,443 people around the world. Apple remains Samsung's biggest competitor and last year the company shipped an estimated 70.7 million handsets compared to Samsung 68.8 million units over the same period of time. Samsung had a rough year in 2020 and recorded a fourth-quarter overall revenue of $ 50.6 billion which is its worst performance since 2015. [...]

[...] In 1988 with the merging of Samsung Semiconductor & Telecommunications Co. and Samsung Electronics the selected core business lines were home appliances, telecommunications and semiconductors. The 90s brought a period of rapid growth in the global electronics industry, with mergers, coalitions and buyouts becoming prevalent the high- tech industry was facing many challenges. However, competition and consolidation flourished in the industry, imports and exports became the main focus of the major players in the industry. Samsung had to refocus its business strategy and rethink some of their service and technology offerings to respond to these market demands. [...]

[...] Economic The global economic rescission is an ongoing concern and has had a noticeable impact on the spending habits of consumers. Samsung continues to expand and has opened operations in many developing countries. In these volatile environments, it is very important for the company to continuously adjust their business strategies to pursue various lucrative projects. The Coronavirus pandemic has presented companies with a global challenge, they will need to pivot and adjust in order to mitigate any negative effects that this current crisis may have on business. The brand strives to create a corporate ecosystem which will enable sustainable growth. [...]

[...] Samsung Electronics constantly reinvents tomorrow to pursue happier and richer lives. We explore the territory of the unknown to discover potential and fulfil a greater promise.' The company dedicates time and resources to deliver differentiated designs and continuously debuts inventive new products. It believes that these continuous efforts have fostered a deep trust and commitment from its customers. E. Ecological Samsung prides itself on the fact that it has taken a strong responsibility as a global citizen and strives to create social values while upholding their economic values. [...]