The business on...Lee Kun-hee, Chairman, Samsung
Saturday 08 October 2011
The only part of the tech world not in mourning?
Ah yes. Even rival tech firms have been free with the tributes to Apple's boss Steve Jobs. Google, for example, had a bar at the foot of its home page reading "Steve Jobs 1955-2011". Log on to Samsung's site and it's blaring out "it's time for a better tablet". No prizes for guessing what Mr Lee's company (he's actually the son of the founder) is taking aim at.
Can Samsung really rival Apple?
Well, Mr Lee had reason to be upbeat yesterday. Samsung beat analysts' forecasts, largely thanks to smartphones. Its Galaxy is No 2 in the market, thanks to the growing popularity of devices running Google's Android software. The number one? That would be Apple's iPhone, which runs its own software. But a profit of 4.2trn won (£2.3bn) against the analysts' consensus of 3.7trn won is not to be sniffed at.
What's with the Apple vs Samsung stuff?
Mr Lee and the late Mr Jobs had been at daggers drawn over those tablets for a long time. They'd been throwing lawsuits at each other all over the world. And that was despite one of Apple's component suppliers being, erm, Samsung.
Indeed. Interestingly, there are some parallels between the two men. Like Mr Jobs, Mr Lee stepped down from his company only to make a swift return. And like Mr Jobs, Mr Lee has transformed his business. In the early 90s, with Samsung producing a mass of largely low-quality products, he said: "Change everything except your wife and kids."
And the difference?
Well, yes. Mr Jobs was ousted from Apple as a result of a boardroom tussle. The company then called him back to rescue it (and how). Mr Lee had to quit after tax evasion and breach of trust charges following a three-year inquiry into corruption at Samsung.
Yes indeed. But it's OK. He got a presidential pardon, ostensibly so he could help South Korea's successful bid for the 2018 Winter Olympics. But with question marks surrounding Samsung, his return soon followed.
- 1 Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
- 2 People all over the world are getting semicolon tattoos to draw attention to mental health
- 3 Van driver who comforted Clark Carlisle and called 999 after suicide attempt dies age 24
- 4 James Blunt was special guest on the highest-rating Top Gear episode ever
- 5 The biggest first date turnoff has been revealed
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
'I wish the BBC would stop calling it Islamic State' – David Cameron unleashes frustration at broadcaster
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
Sickness and disability benefits could be reduced by £30 a week as part of £12bn welfare cuts
iJobs Money & Business
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...
£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...
£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....
£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...