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 Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
- 2 iOS 8 apps and features: eight iPhone settings you need to look at after you install the update
- 3 Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
- 4 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 5 Scotland could still declare independence – even without referendum, says Alex Salmond
Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
Khorasan: Muhsin al-Fadhli - the man leading a terror group more feared by US officials than Isis
'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
Alicia Keys leaks own nude photo 'to create a kinder and more peaceful world'
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£65000 Per Annum Benefits + bonus: Clearwater People Solutions Ltd: If you are...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...