Goodbye Samsung Techwin, hello Hanwha Techwin
RIDGEFIELD PARK, N.J.—The Samsung name will stay on its products for now, but as of April 1, video surveillance provider Samsung Techwin America is changing its name to Hanwha Techwin America.
Tom Cook, Samsung VP sales for North America, called the name change “the next move as we incorporate ourselves into Hanwha, a $56 billion corporation.”
Cook said that the products will eventually be rebranded. They may be rebranded as Hanwha Techwin, or something else, he said. The timing is “evaluated quarterly and monthly,” but there is no rush, he said. Hanwha Techwin is co-owner of the Samsung brand name and may use it as long as it pleases, Cook said.
Why did they decide to keep the Samsung Techwin product brand now?
The Samsung brand “carries weight in the consumer mentality,” Cook said. When Hanwha Techwin rebrands the Samsung Techwin products, “it’s important to make sure it doesn’t hurt us from a sales and momentum perspective,” he added.
Cook mused that rebranding could occur when Hanwha Techwin hits a milestone such as when Samsung “is no longer fifth [largest video surveillance provider according to IHS] and is second or third.”
Cook reiterated that Samsung Corporation and Samsung Techwin have always been separate publicly traded entities. “Even though we were under the Samsung Corporation, we didn’t get our cameras or optics from Samsung Mobile or Samsung Corporation,” he said.
Instead, Samsung Techwin has always had its own R&D and manufacturing. Hanwha Techwin, a $2.5 billion company, now has 1,950 employees worldwide, including 550 in R&D, 680 in manufacturing, 540 in sales and marketing.
Hanwha is very interested in growing Hanwha Techwin “to a powerhouse globally,” Cook said.
“You’re going to see us growing faster than you have. … [And] see even more innovation and technology coming from us,” he added. Hanwha is looking to the North American market in particular to propel growth. “The investment will be heavy here,” he said. “Down the road they’ll be looking at major acquisitions, possibly to complement what we do.”