This week's Economist runs a long piece on the recent success of Samsung, the South Korean firm that's now one of the world's leaders in consumer electronics.
The article's subscription only, so here's a few choice quotes:
This week Samsung will announce record-breaking annual resluts, not just as South Korea's most profitable, but also as its most visible, company.
Yet as Samsung was closing the books on a triumphant 2004, its future was looking less certain. The Korean won soared to a seven-year high against the dollar, reducing the value of much of its overseas earnings. While electronic gadgets such as digital cameras, mobile phones and flat-screen televisions remain as popular as ever, prices are falling. That cuts Samsung's profit margins.
The company is... investing heavily... Research and development accounted for $2.9bn in 2003, around 8% of revenue... and more money will be spent on brand-building. A decade ago, Samsung was mostly seen as a producer of cheap televisions and microwave ovens.
There's no doubt that Samsung is an extremely interesting company, one that seems to have become a household name without ever really having erm, a household name.
It's giving Motorola and Nokia a run for their money in mobile phones, while in the general consumer electronics market it goes from strength to strength.
And all this despite its image as, well, a cheap alternative to Sony and the other big hitters. But is it a false dawn? Perhaps not. The technology market is no longer a niche, and if Samsung can capitalise on their successes, they might just keep up the pressure.
