Samsung (Economics) - 966 Words

Introduction Samsung has been in the business for over 70 years, it is a company which is considered to diversify its business ranging from mobile phones to washing machines, TV’s to microwave, all kinds of home appliances to the most modern worldly technology needs of human kind. Samsung is a $160 billion company. Through research, reliability and a talented workforce, Samsung is able to provide technological solutions for our everyday lives. Samsung is known for its TVs however they have penetrated into the mobile phone market. They have come up with creative technology such as the Smart TV and Smart Camera. They continue to invest heavily into their research and development so that they can produce products that are efficient and†¦show more content†¦Will Samsung LCD TV remain in monopolistic competition? With time, the LCD TV market will either become a perfectly competitive market or there will be a shift in power from Samsung to its rivals like LG, Sony and Sharp. As there are few barriers to entry, existing competitors might gear up their products or new competitors might enter the market and supply a product which is better than that of Samsung. However Samsung invests a lot in its research and development and continues to maintain its market share. Smartphones as an oligopoly What is an oligopoly? An oligopoly market consists of a few sellers and has many entry barriers for prospective competitors. Competitors in an oligopoly have a significant influence over the market meaning they determine the price in a way to exploit profits. Competitors are dependent on each other meaning all of them would have almost the same pricing. If one raises or lowers their prices, other competitors do the same. How are Smartphones an oligopoly? There are few competitors in the market namely Samsung, HTC, Apple, Blackberry, Nokia, and Sony. Samsung prices its cell phones almost like most of the competitors in the market. If HTC releases a $300 phone then Samsung also launches a phone at the same price with almost similar specifications. Will Smartphones remain an oligopoly in the future? There is a chance that it might turn into a perfect competition as newShow MoreRelatedSamsung Electronics And Its Impact On Economic Development, Politics And Culture1326 Words   |  6 PagesABSTRAT Nowadays Samsung Electronics is a South Korean multinational company that produces a wide range of electronical equipment. In South Korea, the company has a paramount influence on economic development, politics and culture. However, Samsung also has a huge power in the worldwide terms. The revenue that the company earns every year is impressive. At the same time, the whole world may take advantages of Samsung’s products using them. 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