Last Monday we reported that Fitch Ratings, a global rating agency dual-headquartered in New York and London, put out a report on Samsung and clearly stated that Samsung has yet to prove its "creative" innovation which is defined as creating a new product or market segment that hasn't existed before. Translation: Samsung's leadership is still based on copycatting other companies' true innovations. Now a new report out of Korea has a Samsung official on record stating that they're not innovators yet even though the mainstream media dances to that tune daily.
According to the Korean Times, a Samsung "official stressed the importance of the lessons of history as a good source of encouragement toward realizing Samsung's next steps toward transforming itself as an innovator not just as a fast-follower." Well, at least they admit that they're fast-followers. I respect honesty, don't you?
On a humorous note, the report also pointed to Samsung's Chairman Lee Kun-hee stating back in 1993 to fire up his troops, "Change everything but your wife and children." Is it just me or is that insane? Thanks for the laugh Mr. Chairman and don't worry about it, you'll be a fast-follower for many years to come.
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