Samsung beats Google in innovation

By Kim Yoo-chul

Samsung Electronics beat Google to be named the world’s second most innovative company behind Apple, a latest survey showed Thursday.

According to Boston Consulting Group’s (BCG) 2013 “Most Innovative Companies” list, Samsung snatched second position from Google, which has maintained the spot for seven consecutive years since 2006.

The consultancy pointed out that Samsung received higher points in its “leadership commitment” criteria section.

“The role of leadership at Samsung under chairman Lee Kun-hee has long been legendary in its home market. This reputation has become global in recent years as the company has moved from innovative success to success. Samsung has vaulted up the ranking in our survey from number 28 in 2008 to second place this year,” said the consultancy.

The announcement comes a day after Samsung released its first wristwatch Galaxy Gear to Korean consumers and has confirmed its plan to release a flexible smartphone next month, the industry’s first.

“Samsung’s leadership is known for recognizing products that can drive the creation of whole new markets ― flat-screens and smartphones are two examples ― and investing heavily in their development,” the statement said.

The consultancy continued; “Samsung’s popular Galaxy Note mobile device came into being as the company sought to combine the portability of a mobile phone with the broader usability of a tablet. This led to the creation of a new mobile device product category dubbed as ‘phablet’ and it helped Samsung become the No. 1 maker of mobile phones globally.”

“Samsung is now building on its established strength in technology and investing in ‘life care’ businesses. At the same time, it is continuing innovations in other advanced technology areas such as ‘green memory’ solutions that seek to increase computing performance while reducing power consumption,” said the statement.

A Samsung spokesman welcomed the result and stressed the firm will be aggressive in launch devices that can create values to users.

Apple held the top spot for the ninth consecutive year.

The results are determined in part by a survey of 1,500 senior executives who are asked to name the most innovative companies outside their industry, weighed alongside three-year shareholder returns, revenue growth and margin gains.

Samsung’s biggest local rival LG Electronics was ranked 25th by the consultancy. Hyundai Motor and Kia Motor were 17th and 36th, respectively.

yckim@ktimes.co.kr,