The two Korean powerhouses, Samsung and LG, apparently have different marketing strategy in gaining market share. While Samsung Electronics has yet to fix the date of its annual “Global Strategic Meeting” where chief executives of its key local and overseas units gather to discuss business plans, LG Electronics has held its internal meetings as planned.

On Tuesday, LG Electronics said it held this year’s first “Global Managers Meeting” in central Seoul with the company’s 400 key local and overseas officials including its Vice Chairman Nam Yong. Nam noticed about the threat from Japanese and Chinese vendors.

“Truly, this year will be much tougher for us. Japanese manufacturers have been strengthening their competitiveness by pitching up the ongoing restructuring efforts, while Chinese players have been allocating massive amounts of money for ‘brand marketing’,” Nam told participants.

In contrast, Samsung Electronics has postponed its global strategic meeting, possibly to February, according to insiders.

Source: The Korea Times

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 Print Posted by Amir Karimuddin on January 24th, 2008