Ten years ago, Samsung’s executives poured over numbers and set their 2010 sales goal at $140 billion — four times the amount in 2000. Sales will reach that level this year, according to the median estimate of 21 analysts — right on target. The company is aiming to increase revenue again — this time more than tripling it from 2009 to $400 billion by 2020.
Samsung Electronics has already taken giant steps from its early days as a copycat appliance manufacturer. Now, as a consumer electronics behemoth, it has expanded beyond South Korea and the nation’s industrial, conglomerate-run shipyards, steel mills and auto plants.
“Samsung today is in an incredible position to create the evolution of consumer electronics,” says Shaun Cochran, who heads Korean research at brokerage CLSA Asia-Pacific, which rates Samsung Electronics a “buy.” To be successful, Samsung — a company with a history of top-down managers and obedient employees — will need to shift strategy, a process for which it has few guideposts.
For the one-time imitator to become a pioneer, hitting the numbers will be just the beginning [Source 1] [Source 2].
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