The CEO of Samsung Electronics, Lee Jae Yong, swears his managers for an existential crisis. It is about “a matter of survival or dying”, the official press agency Yonhap van Zuid -Korea quoted from a video message from Lee.
The video was therefore played for around 2,000 company managers during a training seminar. “We have to invest in the future, even if that means we have to do without immediate profit,” Lee was quoted.
Samsung at Ai-Neck Ladder in the falling meeting
Samsung is by far the largest company in South Korea. However, the producer of computer chips, smartphones and television devices currently face major challenges. Samsung lags behind the development of powerful semiconductors on the AI market. The company in particular exerts a lot of pressure on the domestic competitor SK Hynix. The company has also lost global market shares in the divisions of TVs and smartphones.
The business figures of Samsung Electronics for the fourth quarter of 2024 were already considerably behind the expectations of economists. Analysts who have been interviewed by the Yonhap press agency are now assuming that the operational profit of Samsung Electronics could fall by more than 20 percent in the current first annual quarter.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
