We all know that Apple has one of the most robust tech ecosystems globally, and almost no company can ever compete with it. The company has complete control over software and hardware, and the integrity that it brings is fantastic. Samsung bosses know that it’s time for the company to rely on its own ecosystem. According to the report, Samsung managers meet every two weeks to discuss the company’s future ecosystem. These discussions occur at the level of the company’s senior executives, which shows that Samsung has serious willpower to build its own ecosystem. Samsung has taken serious steps to make its dream come true, but these steps are not yet enough to produce a product comparable to Apple’s ecosystem. The head of Samsung’s display division Han Jong-hee, consumer electronics head Lee Jae-seung, and mobile division head Roh Tae-moon are the participants. They started their meeting in late 2020. Moreover, co-chief executive officer & co-chairman of Samsung Kim Hyun Suk and the company’s CFO Choi Yoon-ho reportedly have direct supervision over the meetings and announced their support for the plans.
Building an ecosystem is a severe challenge to Samsung
Building an ecosystem and persuading users to stay and use it is definitely more challenging than selling smartphones. Dozens of companies are currently selling smartphones, and switching to a new device is easier than ever. Samsung knows that Apple’s ecosystem plays a significant role in the company’s success. Users deposit billions of dollars into Apple’s bank accounts each year due to the experience they get from the ecosystem. Samsung’s ultimate goal is to improve the multi-device experience of its users. Also, encourage them to spend more time exploring the products and apps. In this way, they are convinced to buy new devices and use new software services. This is the same strategy that Apple has been using for years, and it works. For example, Apple Music generated more than US$4 billion for the company in 2020. SmartThings can be one of Samsung’s trump cards in the ecosystem game. The SmartThings recent updates brought more integration with Samsung’s different devices, applications, Android Auto, and it even helps at managing electricity consumption.
