Keep learning. Keep innovating. Stay relevant.

During the press conference to announce NOKIA being acquired by Microsoft, Nokia CEO ended his speech by saying this “we didn’t do anything wrong, but somehow, we lost”.

Nokia has been a respectable company. They didn’t do anything wrong in their business, however, the world changed too fast. Their opponents were too powerful.

The message of this story is, if you don’t change, you shall be removed from the competition.

Keep learning. Keep innovating. Stay relevant.

1- In 1938, Lee Byung-Chull launched Samsung in South Korea as a grocery shop.

2- In 1940, due to tight competition in the grocery segment, Samsung abandoned grocery for producing and selling of noddles.

3- In 1950, Samsung abandoned production of noddles for producing of sugar.

4- In 1954, Samsung left sugar and started a woolen mill in Korea.

5- In 1956, Samsung abandoned woolen mill and started selling Insurance and securities.

6- In 1960, Samsung left selling of insurance and securities for production of television - the black and white television. Not color television.

7- In 1980, Samsung switched to telecoms, producing telephone switch boards.

8- In 1987, Lee the founder and owner of Samsung died. The company now broke into four independent companies- department stores, chemicals & logistics, paper/telecom and electronics.

9- Same year, Samsung decided to focus on international investing, investing in plants & semi conductor facilities around the world.

10- In 1990, Samsung delved into real estate abandoning international investing in semi conductors. Samsung built the worlds tallest buildings: Petronas Towers Malaysia, Taipei 101 in Taiwan

11- In 1993, there was heavy recession and Asian markets went belly up, Lee’s son who had succeeded him as the CEO of Samsung began downsizing, selling subsidiaries and merged the rest.

12- With the merging of the electronics, engineering and chemicals division, Samsung became the worlds largest producer of memory chips.

13- In 1995, Samsung switched to liquid-crystal displays and over the next 10 years became the worlds largest manufacturer of flat screen television.

14- In 2010, with liquid crystal displays becoming competitive, Samsung launches a 10 year growth strategy, with smart phones being a key focus.

15- In 2016, Samsung is worlds largest mobile and smart phone maker, outselling iPhone two to one.

Samsung sales today is over $250 billion and produces a fifth of South Korea’s total exports.

Don’t get stuck doing same thing over and over again, it’s boring. The life is in the risk. The life is in the new!!! If your idea isn’t working or you are stagnant, don’t stick to the Glorious’ past, take the risk and move on. It’s far better than being stagnant.

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Good advice, although pia wewe nikama umekwama chini ya Tata.

Did you know that the 27 largest company in the world is bigger than the combined economies of Kenya, Uganda, Tanzania and Rwanda?

:confused:o_O

There was a programme called shark tank. I used to watch those American looking for cash and just say wow

All is true, except…Samsung didn’t abandon those industries. They are still in all of them. We only know of the mobile and electronics industry. They are in virtually all industries and account for about 33% GDP of South Korea.

Hehe. I read somewhere that Harvard University’s annual budget alone is bigger than all those economies combined. Just one university.

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I was surprised to learn they build ships and military equipment.

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True that, furthermore they were the contractors of the tallest building in the world…Burji Al Arab

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na mbona sasa hawajai jenga ata cowshed Kenya?

Naona labda ni kwa sababu hawajaona reason ya kufanya low-value construction work ya Kenya. Kama Kirinyaga construction, NK Brothers na China Wu Yi ni NCA 1 level contractors, hao wako kwa sratosphere breathing rarefied air.

wooow