Samsung Mission Statement

Samsung’s mission is “to devote its talent and technology to creating superior products and services that contribute to a better global society.”

AspectDetailsAnalysis
Mission“To devote its talent and technology to creating superior products and services that contribute to a better global society.”Samsung’s mission is clear and purposeful, focusing on the use of talent and technology to create products and services that have a positive impact on the world. It emphasizes a commitment to global betterment, aligning the company’s goals with societal needs and values.
Business PhilosophyRevolves around using talent and technology to create superior products and services that benefit society.Samsung’s business philosophy underscores the company’s intention to harness its capabilities for the betterment of society. It highlights the importance of technology and people, signifying that innovation and human resources are central to their approach. This philosophy positions Samsung as a responsible contributor to societal advancement.
Responsible PerformanceCommitted to complying with laws, adhering to a global code of conduct, and engaging in ethical management.Samsung’s commitment to responsible performance reflects its dedication to ethical and lawful business practices. Ethical management is identified as a trust-building mechanism with stakeholders and a means of positively impacting society. This commitment aligns with corporate social responsibility principles.
Core ValuesStrong values guide decision-making and actions, supported by a strict code of conduct.Samsung’s emphasis on core values and a strict code of conduct underscores its commitment to ethical behavior and responsible corporate practices. These values form the foundation of the company’s actions, ensuring consistency and integrity in its operations. They are essential for building trust with stakeholders.
Five Business PrinciplesIntroduced in 2005 to emphasize corporate social responsibility.Samsung’s adoption of five business principles demonstrates its dedication to corporate social responsibility. These principles serve as a framework for compliance with legal and ethical standards and the fulfillment of social responsibilities. They reflect Samsung’s commitment to ethical conduct and its role in society.

This is expressed in Samsung Business Model.

Samsung’s mission moves along a few key pillars:

  1. Responsible Performance: Samsung is committed to complying with laws and regulations and adhering to a global code of conduct. Ethical management is seen as building trust with stakeholders and contributing to a better global society.
  2. Business Philosophy: Samsung’s business philosophy revolves around using talent and technology to create superior products and services that benefit society. They place high value on their people and technologies.
  3. Core Values: Strong values guide Samsung’s decision-making process. These values and a strict code of conduct form the foundation of the company’s actions and behaviors.
  4. Five Samsung Business Principles: Introduced in 2005, these principles represent Samsung’s commitment to corporate social responsibility. They ensure compliance with legal and ethical standards and the fulfillment of their social responsibilities.

Key Highlights:

  • Mission and Business Philosophy:
    • Mission: Samsung aims to create superior products and services that contribute to a better global society.
    • Business Philosophy: Focuses on utilizing talent and technology to benefit society, valuing people and technologies.
  • Responsible Performance:
    • Commitment to comply with laws, adhere to a global code of conduct, and engage in ethical management.
    • Ethical management builds trust with stakeholders and contributes to a better global society.
  • Core Values:
    • Strong values guide decision-making and actions.
    • A strict code of conduct forms the basis of the company’s behaviors and actions.
  • Five Samsung Business Principles:
    • Introduced in 2005 to emphasize corporate social responsibility.
    • Ensure compliance with legal and ethical standards and fulfill social responsibilities.

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Samsung Revenue

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Apple vs. Samsung

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Apple Business Model

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Apple has a business model that is divided into products and services. Apple generated over $394 billion in revenues in 2022, of which $205.5 came from iPhone sales, $40 billion came from Mac sales, over $41 billion came from accessories and wearables (AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and accessories), $29.3 billion came from iPad sales, and $78.13 billion came from services.

Apple Business Growth

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iPhone and Services sales represented the main revenue drivers in 2022. Within the service revenues, the fastest growing sub-segment was the advertising business Apple built on top of the App Store, followed by the Mac, Accessories & Wearables, and the iPad.

Apple Distribution

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In 2022, most of Apple’s sales (62%) came from indirect channels (comprising third-party cellular networks, wholesalers/retailers, and resellers). These channels are critical for sales amplification, scale, and subsidies (to enable the iPhone to be purchased by many people). In comparison, the direct channel represented 38% of the total revenues. Stores are critical for customer experience, enabling the service business, and branding at scale.

Apple Value Proposition

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Apple is a tech giant, and as such, it encompasses a set of value propositions that make Apple’s brand recognized, among consumers. The three fundamental value propositions of Apple’s brand leverage the “Think Different” motto; reliable tech devices for mass markets; and starting in 2019, Apple also started to emphasize more and more privacy to differentiate itself from other tech giants.

How Much Is Apple Worth?

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In 2022, Apple is worth two and a half trillion dollars. Apple generated over $205 billion from iPhone sales in 2022, which accounted for over 52% of its net sales—followed by services revenues at over $78 billion, wearables and accessories at over $41 billion, Mac sales at $40 billion, and iPad sales at over $29 billion.

Apple Mission Statement

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Apple’s mission is “to bring the best user experience to its customers through its innovative hardware, software, and services.” And in a manifesto dated 2019 Tim Cook set the vision specified as “We believe that we are on the face of the earth to make great products and that’s not changing.”

The Economics of The iPhone

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Apple’s made over $394 billion in revenues in 2022, of which over $205 billion or 52% of its total revenues came from the iPhone. Yet, the iPhone isn’t just a hardware product; it’s a business platform that combines hardware (iPhone), operating system (iOS), and a marketplace (the App Store). Thus, the company still makes most of its money around a single product which powers up an entrepreneurial ecosystem.

Related Business Models

Google Business Model

how-does-google-make-money
Google (now Alphabet) primarily makes money through advertising. The Google search engine, while free, is monetized with paid advertising. In 2021 Google’s advertising generated over $209 billion (beyond Google Search, this comprises YouTube Ads and the Network Members Sites) compared to $257 billion in net sales. Advertising represented over 81% of net sales, followed by Google Cloud ($19 billion) and Google’s other revenue streams (Google Play, Pixel phones, and YouTube Premium).

Microsoft Business Model

microsoft-business-model
Microsoft has a diversified business model, spanning from Office to gaming (with Xbox), LinkedIn, search (with Bing), and enterprise services (with GitHub). In 2021, Microsoft made over $198 billion in revenues, of which over $67 billion came from Server products and cloud services, and $44.8 billion came from Office products and cloud services. Windows generated $24.7 billion, Gaming generated over $16 billion, LinkedIn over $13 billion, and search advertising (through Bing) over $11.5 billion. Enterprise (GitHub) generated $7.4 billion, and devices (PC) generated almost $7 billion. 

Meta Business Model

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Facebook, the main product of Meta is an attention merchant. As such, its algorithms condense the attention of over 2.91 billion monthly active users as of June 2021. Meta generated $117.9 billion in revenues, in 2021, of which $114.9 billion from advertising (97.4% of the total revenues) and over $2.2 billion from Reality Labs (the augmented and virtual reality products arm). 

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