Samsung Techwin Brand and Sales Remain Intact After Sale
There has been a lot of speculation, differing opinions, and misunderstandings regarding the fate of Samsung Techwin after its stock ownership sale to Hanwha Group in late 2014. Rumors that the Samsung Techwin brand would go away after the sale, or that the sale was due to any kind of weakness of the brand were rampant. In the following, the company assures the industry not only are they not going anywhere, they are more motivated than ever to succeed.
Since the announcement that the Samsung Group would sell off its stock ownership of Samsung Techwin in November 2014, the industry has been interested in the following two questions: Will Samsung Techwin products retain the Samsung Brand name, and if so, for how long? How much would the news impact the company’s sales? To set the record straight, the company’s sales in December 2014 remained steady despite the previous expectations that sales would be hit the hardest during the period. In addition, Samsung Techwin will maintain the Samsung brand name.
Unsurprisingly, December 2014 was a busy month for the company, handling a flood of inquires from all of its partners — some partners even visited the headquarters. There were also an abundance of rumors and misguided media reports. However, Samsung Techwin calmly contacted its business accounts, partners, contractors, etc. Sales personnel have met with their assigned accounts one by one to make sure they understand that Samsung Techwin will not only continue to keep its core technologies and R&D personnel, but will also make little changes to the product roadmap.
The 2015 lineup is being operated as planned, with the manufacturing line and product supply up and running without any major interruption after the sell-off announcement. In a nutshell, everything is business as usual at Samsung Techwin. As a result, December sales were barely influenced by the news and sales even increased in some regions (e.g., China, the U.S., India, Indonesia, Iran, Iraq, Vietnam, etc.).
David Kim, Director of APAC Sales and Marketing, said, “The news of sellout served as an opportunity to motivate our employees in a positive way. Through one-on-one dialog with our partners, we reaffirmed their trust in us and deepened our relations even further. We could listen to different views of the partners highly loyal to our company and reflect such opinions to the 2015 lineup and product R&D. The sell-off decision served as a momentum for the company and our partners to launch sales and marketing activities in a more aggressive manner.”
Samsung Techwin believes that now is the time for the real game to begin. It pledges to take this opportunity as a pivotal point to expand customeroriented product lineup and services and accelerate devising medium to long-term plans. It is expected to make an official announcement regarding medium to long-term plans once the due diligence is completed.