Samsung brings fight to its competitors - analysts
Samsung Electronics Co. wanted to bring the fight to its competitors. Following Samsung's launch of its newest smartphone in the iPhone country, USA, the South Korean titan also opened a research and development center in Finland, the home market of Nokia Corp.
"This decision to establish our R&D presence in Northern Europe reflects the importance we place on the European market," Samsung said in a statement. The center would be Samsung Electronics R&D Institute UK's branch.
Its investment in Finland signified a tougher competition for Nokia. Research firm International Data Corporation stated that Samsung already took Nokia's top spot in its home market. In the first quarter, Samsung was able to grab 36.1% share in Finland's market compared with Nokia's 33.6%.
Samsung reported more than 30 R&D centers worldwide. It said that it planned to maintain its market domination by spending more billions on marketing and research. However, analysts remarked that spending so much for an R&D facility would not mean that a company could already attain success in taking most shares in the market. Analysts added that corporations could put their cash pile into good use by working on their services in their retail outlets.
Samsung reported a 9% increase from the first quarter. Its operating profit became KRW9.53 trillion or US$8.5 billion compared with the first quarter's KRW8.78 trillion. It also reported 9% jump in mobile sales from KRW31.77 trillion to KRW34.85 trillion.