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The company, whose anniversary falls on Sunday, opened its doors in 1969 with knock-down radios and black-and-white TV sets, but has since grown into a global presence in the fields of consumer electronics and hi-tech information technology (IT), which encompass liquid crystal display (LCD) panels and mobile handsets.
Its brand value is currently estimated at over US$17 billion, with the aggregate value of its listed stocks worth more than Japan's Sony, which it had benchmarked as a growth model in the past.
Indicative of its importance, market watchers from all over the world are keenly awaiting the release of its third quarter earnings, planned for Friday, which will likely be followed by an announcement on Samsung's vision for the next decade.
Exact details on future plans have yet to be made public, but Samsung executives recently said the company plans to expand its flagship product groups from the current four -- memory chips, LCD panels, TVs and mobile handsets -- to six, including printers and system LSI or non-memory chips. It also aims to add nine products to its current list of 11 global top products by 2013.
In the semiconductor field, Samsung said it will strive to push up revenues to US$25.5 billion in 2012, up more than 50 percent from this year's estimate of US$16 billion. The company is the world's No. 1 manufacturer of dynamic random access memory (DRAM) chips and NAND flash memory, controlling 36 percent 40 percent of the global market, respectively.
Kwon Oh-hyun, the head of semiconductor unit, said that the company will focus on trying to widen the technology gap with its rivals in the coming years that can help solidify its dominant position.
On the display panel front, Samsung plans to redouble its efforts to develop next-generation products, such as flexible displays and solar energy panels that are gaining more importance as the world looks to "greener" products to save the environment and save energy.
Samsung's mobile handset division, whose world rank came next to leader Nokia, aims to manufacture more high-end products for consumers in developed countries, as well as stepping up production in smartphones, which are attracting new customers.
The company's mobile phones have made solid gains in the large U.S. market and in many European countries.
Such noteworthy gains, however, are seen as falling short of providing a roadmap of the future since the company can no longer follow in the footsteps of others.
"A runner-up could follow the lead of the trendsetter and try to come from behind to overtake the leader, but the front-runner must create new products and markets based on new technology," said Choi Gee-sung, president of Samsung's digital media operations. He said failure to do so would allow such businesses to be usurped by competitors following on its heels.
Such remarks, market insiders said, indicate that the company may be gearing up for a new phase that can help set priorities and highlight the direction of the company as it tries to move ahead of the pack and lead the worldwide market.
They recalled Samsung implemented sweeping changes several times in the past as it prepared to make the next leap forward.
In the 1983 "Tokyo Declaration," Samsung founder Lee Byung-chull announced the company's entry into the memory chip business despite wide-scale skepticism in the market about the company's capabilities.
This was followed in 1993 with the "Frankfurt Declaration" made by then Chairman Lee Kun-hee, the current de facto head of the family-owned business empire, who called for a complete overhaul of the company so it could become a global player in electronics.
The company set up a comprehensive management strategy for the next decade in 1997, focusing on new core business sectors that covered mobile communications systems, networking, non-memory chips and large-scale integrated circuits. Its digital televisions, LCDs and personal digital assistants (PDAs), large color TVs, monitor, laptops, mobile phones and memory chips started to compete with foreign trendsetters.
For the future, company insiders and industry analysts predicted that Samsung may move to consolidate its technological leadership in all the business spheres it dominates while at the same time developing new growth engines in the sectors of IT solutions and devices, energy and environment, and biohealth.
If such efforts are successful, Samsung, which has enjoyed preeminent status as South Korea's largest conglomerate, may become a common household name throughout the world.
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