Qualcomm and Samsung executives talk about innovation: be flexible and put users first

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In the business landscape of many global companies, the position of the Chinese market is becoming increasingly important, so the issue of localized innovation has become a collective challenge faced by the senior management team. Regarding this issue, Qualcomm Global Vice President Shen Jin and Samsung Vice President Huang Jiawei discussed it at the GMIC 2014 Global Mobile Conference. DoNews summarized the following three key points.

First, we must strive to adapt to localized innovation

Shen Jin pointed out that Qualcomm has always placed innovation at the core of its strategic positioning. As Qualcomm's largest market, innovation that meets the needs of Chinese users is particularly important. To this end, Qualcomm has established R&D centers for the Chinese market in Shanghai and Beijing, and set up a dedicated team of engineers in Shanghai.

Shen Jin reflected on Qualcomm's innovation. He said that the experience in the Chinese market reminded Qualcomm that it was a bit rigid and not flexible enough in aspects such as hardware transformation.

Huang Jiawei from Samsung also believes that global companies have the overall advantage of being able to see the feasibility and applicability of different products in different markets. Samsung integrates the unique knowledge of different markets to carry out global innovation, and then adjusts to the characteristics of each market to adapt to the challenges brought by different market environments. In terms of product research and development and design, Samsung has currently established 5 design centers around the world, one of which is located in Shanghai, China.

"China itself is a huge market and one of our three largest markets in the world." Huang Jiawei said that the primary task for local innovation in China is to ensure that the products developed meet the needs of Chinese consumers and to study whether the products are suitable for other markets through practice in the Chinese market.

Huang Jiawei admitted that the experience learned in the Chinese market is that innovation does not need to overemphasize the core technology of the product, but should come more from the improvement of services and business operation models to achieve differentiation of business operation models.

Second, always maintain an entrepreneurial spirit

Facing competition from emerging startups, Shen Jin said that Qualcomm, as a young company with only 27 years of history, has always positioned itself as a large startup. Qualcomm's focus on vision is consistent with the philosophy of startups, and Qualcomm's internal competition model and attention to startup activities also determine that Qualcomm has entrepreneurial genes.

Samsung's emphasis on innovation and entrepreneurship comes from market pressure. Huang Jiawei revealed that in addition to promoting competition mechanisms such as performance evaluation internally, Samsung also maintains cooperation with innovative companies, which has become part of its daily work.

Third, be optimistic about China’s entrepreneurial environment

Shen Jin holds a positive attitude towards the entrepreneurial environment for Chinese companies. "In the past, start-ups only had one way to exit, which was IPO, and the vast majority of companies could only go to the United States for IPO. Now mergers and acquisitions have become a very good exit option." He believes that this is a huge motivation for start-ups.

But inevitably, mergers and acquisitions also bring certain negative effects. At present, a large number of domestic mergers and acquisitions are based on the strategic considerations of giants, rather than on the healthy performance of the acquired companies in terms of business and finance. As a result, many entrepreneurial groups have high valuations, which is suspected of value speculation.

On the other hand, unlike startups in Silicon Valley, Europe, Israel and other countries, China's startup teams are relatively lacking in international strategic perspectives and only focus on development in the domestic market while ignoring the international market.

Huang Jiawei is also optimistic about China's entrepreneurial environment. "Even with giants like BAT in power, we can still see the continuous emergence of innovations in various sub-sectors such as mobile e-commerce in the past two years."

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