See Qualcomm, Samsung executives on local innovation

As the market in China is becoming more and more important in the business landscape of many global companies, the issue of localization and innovation has become a collective challenge for the executive team. In this issue, Shen Jin, vice president of Qualcomm, and Huang Jiawei, Samsung's vice president, discussed at GMIC 2014 Global Mobile Conference. DoNews summarized the following three points.

First, we must strive to adapt to local innovation

Shen Jin pointed out that Qualcomm always put innovation in the strategic position of the core, China as Qualcomm's largest market, to meet the needs of Chinese users market innovation is particularly important. To this end, Qualcomm has established R & D centers for the Chinese market in Shanghai and Beijing and has a dedicated team of engineers in Shanghai.

Shen Jin reflects on the innovativeness of Qualcomm. He said that the experience in the Chinese market reminds Qualcomm that it is somewhat rigid and not flexible enough in terms of hardware transformation.

Huang Jiawei from Samsung also believes that global companies have the global advantage of being able to see the feasibility and applicability of different products in different markets. Samsung combines the unique perceptions of different markets for global innovation and then adjusts the characteristics of each market to meet the challenges posed by different market environments. In product development and design, Samsung has established five design centers around the world, one of which is located in Shanghai, China.

"China itself is a huge market and one of our three major markets in the world." Huang Jiawei said that the primary task for China's domestic innovation is to ensure that the products developed meet the needs of Chinese consumers and whether the products are tested through the practice in the Chinese market Suitable for other markets.

Huang Jia Wei admitted that the experience learned in the Chinese market is that innovation does not need to overemphasize the product's core technology, more should come from the service and business operations to improve the model to achieve the business model of differentiation.

Second, we must always be entrepreneurial

In the face of competition from emerging startup teams, Shen Jin said Qualcomm, a 27-year-old young company, has always positioned itself as a large startup. Qualcomm focus on the characteristics of vision and entrepreneurial business ideas coincide, and Qualcomm's internal competition patterns and concerns about the activities of business startups also determine Qualcomm has entrepreneurial genes.

Samsung's focus on innovation and entrepreneurship comes from market pressure. Huang Jiawei disclosed that in addition to internal promotion performance evaluation and other competition mechanisms, Samsung also maintained cooperation with innovative businesses, which has become part of their daily work.

Third, optimistic about China's business environment

Shen Jin holds a positive attitude toward the entrepreneurial environment for Chinese companies. "There's only one way a startup can exit in the past, an IPO. The vast majority of companies can only go to the US IPO, and now M & A has become a very good exit The choice, "he said, which is the motivation behind the start-up of a huge startup.

But inevitably, mergers and acquisitions also brought some negative effects. Currently, a large number of domestic mergers and acquisitions are based on giants have strategic considerations, not based on acquired companies in the business and financial performance of the benign, which led to a lot of business groups high valuation, there is suspicion of speculation value.

On the other hand, unlike start-up companies in Silicon Valley, Europe and Israel, China's start-up teams are relatively lacking in an internationalized strategic perspective and focus only on the development of the domestic market while neglecting the international market.

Huang Jiawei also optimistic about China's business environment, "Even with such giants BAT, in the past two years can still see such as mobile e-commerce innovation in various segments of the emerging." (Finish)