“Innovate or perish” goes the old adage. Every business has to follow this or face extinction. This is more prevalent to firms fighting it out in the technology landscape – be it Information Technology, smartphone manufacturers, firms with digital solutions, alternate mode of payments etc. These are the firms who have to be alert to market conditions every now and then, sniff new opportunities in market disruption and seek first mover advantage. Challenges are different for different players. Challenger in the market has to uproot the leader either by bringing in more solutions, winning markets within markets, changes in pricing / positioning or focusing on more than one mentioned areas. New players should bring in quality solutions or at least a pricing war. Leader is not spared either. It’s more difficult to maintain a leadership position than simply to attain that position.
Samsung is one such leader. Samsung has dominated the smartphone market by bringing in plethora of smartphones for each price segment teaming up with Android OS of Google. For every price segment – low, mid-range or high cost flagships – they have more than one product to sell. No wonder they took over this market and are leading for the past few years now. The end users are happy as they have multiple options within their budget from Samsung, a largely reliable brand. The retailers are happy as more users buy Samsung smartphones and they get their share in the whole deal. Samsung is happy as its sales figure keeps on increasing quarter over quarter. Google are happy as they are numero uno in the OS market!
But things are slowly changing.