Occasionally in the world of business, the best defence is a Fantastic offence, and it Sounds like Samsung Electronics Vice Chairman Lee Jae-yong Desired to share this message with a Few of Important figures in the South Korean tech giant to fend off Climbing challenges to its Own Business.
Lee held a meeting together with five heads of Samsung’s major branches over the weekend to talk about its business plan amid a feeble memory chip market and intensifying trade battle between the united states and China, Yonhap news agency reported Monday.
The de facto leader of the world’s biggest memory chip and handset manufacturer vowed to spur innovation in key engineering and foster new development engines to keep a top position in the fast changing technology market.
“Samsung should concentrate on procuring fundamental technologies for long term companies in a fast changing environment.”
The meeting came as Samsung faces headwinds in the downcycle of their memory chip and exhibit companies, coupled with the slow global smartphone market.
Lee reaffirmed that the business will maintain its previous strategy to invest 133 trillion won ($112 billion) from the non-memory chip industry to develop into the world’s leading business player by 2030, calling it”the engine of their fourth industrial revolution”
The infrequent announcement directly quoting the Samsung heir arrived in a period when the US ban on Chinese technology giant Huawei’s gear is complicating its business outlook from the closely connected international supply chain.
Samsung earns more than half of its money from the united states and China, leaving the South Korean technology company vulnerable to prolonged trade conflicts between the world’s two biggest markets.
Though some market watchers held a positive perspective on Samsung’s smartphone and community sales in the aftermath of Huawei’s battle, the Korean company has been taking a cautious position as its value series is interwoven with all the Chinese firm, a significant customer for its chips.
The biggest challenge might be how doubt can strike their companies any moment, prompting Samsung officials to arm the company with the necessary resources to endure potential dangers.
“The assembly was held to align the Company plan in line with the changing international environment and Be Sure the Huge investment was made with no delay,” stated Kim Ki-nam, the head of Samsung’s device alternative division overseeing
The worldwide performance of its semiconductor company, without elaborating.
Meanwhile, the Samsung’s leadership is under pressure in the expanding prosecution research to Samsung BioLogics Co., a bio healthcare unit accused of accounting fraud.
Civic groups maintained that the alleged accounting fiasco in BioLogics was ultimately meant to boost the Samsung heir’s management of the sprawling team by inflating Cheil Industries Inc.’s stake in Samsung BioLogics ahead of its merger with Samsung C&T Corp. at 2015.