Enterprise Is The New Niche Market For Galaxy Smartphones

Enterprise Smartphones

Samsung introduced the Galaxy S4 in March. What most people don’t realize is there are actually five Galaxy S4 models. There’s the standard 5-inch model, the 4.3-inch Mini, a ridiculously almost tablet sized 6.3-inch called the Mega, and an elite camera phone named the Zoom. Last, but certainly not least, there is the Galaxy S4 Active, a water-resistant model that makes all other smartphones feel vulnerable to any/all types of damage.

Divide and conquer is the current strategy of smartphone makers. Not so long ago, all were amazed and jealous by the magnificent iPhone. Manufacturers were forced to turn to niche markets, where there are fewer competitors and customers are more likely to pay a bit extra for an expensive new gadget. Some tangential markets have yet to be really explored. The decline of Blackberry has left a gaping hole for enterprise compliant devices. Businesses have embraced the iPhone and Android devices. Currently Apple is a consumer facilitating company, unlikely to embrace the business world’s inclination for email friendly keyboards, advanced security and close integration with company regulations and mandates. Android is unfortunately regarded as unsecured and Windows Phones is mostly limited to unattractive colored handsets.

This means there may be a window of opportunity for some new competitor; or for an old one to make a comeback. Who will rise to the occasion?

The Toll of Noncompliance

Noncompliance banking

New York, New York, September 13, 2013 – It’s no secret that many large US brokerage houses have come under scrutiny in the aftermath of the great recession, along with many of the practices that are blamed for bringing about the economic decline. As regulators continue to sort through the financial rubble and investigate these firms with a punitive eye, legal related expenses continue to amass at staggering levels.

 

According to today’s Wall Street Journal, in the past five years JP Morgan alone has run up a whopping tab of over $18 billion in legal related expenses. (Note: That’s $ billions – not $ millions). Facing at least seven separate investigations in areas ranging from trading oversight to mortgage bond sales to overseas hiring practices, the company continues to negotiate settlements with several different agencies, which still could lead to another $600 million in penalties. Bank of America and Citigroup, reported in the same article, face the same dilemma. In 2008 – 2012, each incurred legal related expenses  of $16.1 billion and $7.2  billion respectively. (WSJ: “Embattled JP Morgan Bulks Up Oversight,” Sept. 13, 2013).

 

In addition, with the SEC and FINRA now ratcheting up their regulations, it has become painfully clear to the financial industry that regulatory compliance is no longer a peripheral consideration, and measures must be taken to mitigate risk. To that end, according to the Journal, JP Morgan “plans to spend an additional $4 billion and commit 5,000 extra employees this year to clean up its risk and compliance problems, according to people close to the bank.” Without doubt, all financial firms are following suit, and corporate compliance departments are being granted greater autonomy and authority.

 

And contrary to the belief of many, “compliance” usually touches every employee in a company – not just its executives. For that matter, as an example, it may be easier and less conspicuous for a financial executive’s admin assistant to illegally divulge insider information than it is for an executive. For this reason and others, compliance policies need to be ubiquitous across the organization, clearly defined, well communicated, and enforceable, with the necessary resources in place to administer them. To be compliant comes at a cost, but in the final analysis, the investment may save a company from unexpected  fines, law suits and damage of reputation, which significantly out way the investment.

About MobileGuard

 

MobileGuard is the leading provider of mobile communications management solutions, and ensures compliance with all relevant regulatory bodies. MobileGuard’s patented solutions provide the monitoring, capturing, logging, archiving, and supervision of all communications on company mobile devices. MobileGuard’s mobile communication compliance solutions are provided as either a hosted platform or in the customer’s environment. To learn more, please visit www.MobileGuard.com.

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