Office workers enter the Seocho office of Samsung Electronics Co. in Seoul, in this April 27, 2023, file photo. (Yonhap)
SEOUL, June 20 (Korea Bizwire) — Samsung Electronics Co. held companywide global strategy meetings Tuesday, amid continuing headwinds from the uncertain macroeconomic environment.
The biannual event, taking place in June and December, is where hundreds of Samsung’s senior executives from home and abroad get together to discuss pending issues, business plans and strategy.
The company’s device experience division, which oversees the business of mobile phones and home appliances, will hold the meetings until Thursday, while the device solutions division, in charge of Samsung’s mainstay chip business, will only hold meetings Tuesday.
Samsung executives are expected to discuss how to navigate the challenges of the sluggish global economy, slowing consumer demand and continuing geopolitical tensions.
Samsung’s semiconductor business is forecast to log operating losses again in the April-June period, despite signs that the chip industry might have bottomed out with an artificial intelligence chip boom.
The world’s largest memory chip maker posted a deficit of 4.58 trillion won (US$3.56 billion) in the first quarter, its first financial loss in 14 years, as chip inventories grew significantly amid tapering global demand.
Other major issues on the table include the company’s long-term plans to boost its competitiveness in the system chip and contract chip manufacturing segments.
On the mobile and home appliances front, slowing demand will continue to be one of the key concerns for the world’s largest mobile phone maker.
The Galaxy Unpacked event, which is set to be held in Seoul for the first time next month, will also be high on the agenda. Samsung will unveil its latest foldable phones, the Galaxy Z Flip 5 and Galaxy Z Fold 5, at the event.
(Yonhap)
