In September 2011, Samsung Electronics, one of the world's leading consumer electronics companies, announced the establishment of its newest Regional Product Innovation Team (PIT) in Singapore. "In Southeast Asia especially, we see tremendous growth opportunities on the back of rising affluence and consumer demand in fast-growing countries such as Indonesia, Vietnam, Cambodia and Laos. Samsung has enjoyed double-digit growth in this region over the last five years and we expect to grow by 30 percent this year. The region is a melting pot of diversities across cultures, languages and demographics. We need a team committed to understanding this unique group of consumers and be able to turn that understanding into meaningful outcomes in product concepts. This is the purpose of the Singapore Product Innovation Team," said Mr. Gregory Lee, President & CEO, Samsung Asia Pte Ltd.
To form the PIT, Samsung Electronics will draw on Singapore's diverse pool of local and regional talent. The PIT will also leverage Singapore's ecosystem of partners like research firms, innovation agencies and universities to perform deep consumer research and gather valuable market insights, allowing the company to develop innovative product concepts customized for the Southeast Asia, Oceania and Taiwan region.
Samsung Electronics has an established presence in Singapore: since 1995, the company's regional headquarters has been located in Singapore. With the establishment of the PIT, Singapore will also become Samsung Electronics' regional innovation hub as the company expands its presence in the region.
|