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Samsung Overtakes HP as Worlds Largest Technology Company

From the Printware Blog on Wednesday 3rd February 2010 in News

Samsung has now overtaken HP as the world’s largest technology company after achieving sales of $117.8 billion last year, compared with HP’s $114.6 billion. The main advances come in the TV, camera and memory chip markets, while Samsung’s grip on the mobile phone market has actually weakened slightly.

If the forecasts for the coming year are accurate, Samsung will cement its place at the top of the technology tree as it expects to generate $7 billion more sales revenue than its American rival. The increase in revenue hasn’t been matched by huge profits but Samsung has been on a mission to become the world’s largest technology company and it has succeeded ahead of schedule. Samsung’s huge turnover has been made possible by its substantial manufacturing arm, which actually supplies many of its competitors as well as its own various divisions. This means that, even when consumers buy rival products, Samsung often still benefits.

Samsung has been accused in the past of simply copying other companies’ technology but has now shaken off that reputation. Indeed, if it is to remain in the number one spot, it will need to continue to innovate, to invest in research and development and take the lead in developing and marketing new products.

So, what does this mean to customers and to print customers in particular? Well, for customers, this can only be good news – HP won’t take things lying down and will pull out all the stops to regain its crown, while Samsung will need to keep up the momentum to remain at number one. As things stand, HP is still number one in the printer market and the increased competition from Samsung could lead to lower prices and even better products.

Printware has a long standing and productive relationship with both companies and, as a signal of Samsung’s intent to become the world’s largest print company, we have an in-house team of Samsung specialists with full access to Samsung products and support. This puts Printware in an unrivalled position to ensure its customers can take full advantage of Samsung’s success.

by Anthony Morgan

Posted in News

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