December 21, 2024

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[THE INVESTOR] Samsung Electronics is slated to hold its global strategy meeting starting from this week to share next year’s goals and strategies under the newly appointed chief executives, according to multiple sources on Dec. 10.

The firm’s consumer electronics and mobile units will be chaired by new chiefs Kim Hyun-suk and Koh Dong-jin respectively from Wednesday to Friday in its headquarters located in Suwon. The chip unit’s meeting will be presided by its new leader Kim Ki-nam in its Giheung office on Dec. 19. 

Samsung’s global strategy meeting is held twice in June and December with the purpose of reviewing its semi-annual performance and sharing next year’s business goals and strategies. The firm’s senior executives and chiefs of its overseas offices in North America, South America, Asia and Europe will also join the meetings.

The key issues to be discussed during the meeting will be how to respond to the uncertainty in the global business market, seek new income sources and boost profitability in the absence of the chairman Lee Kun-hee and his son Lee Jae-yong.

The device solution unit, which helped to post the firm’s record profits this year, is expected to discuss how to prepare for the future chip market amid concerns about possible oversupply from next year due to heavy investment from China. 

They are also expected to discuss how to boost its foundry business as top foundry firm TSMC is solidifying its relationship with its clients, Apple and Qualcomm.

The mobile division is predicted to discuss the launch of its upcoming flagship smartphone Galaxy S9 and new foldable phones Koh had mentioned during the Note 8 launch event in September.

The unit is also expected to discuss how to integrate its smartphone business with future technologies, including artificial intelligence, Internet of Things and self-driving cars, in connection with Samsung Strategy and Innovation Center led by Young Sohn.

The consumer electronics unit is expected to review what to showcase at the upcoming Consumer Electronics Show in January of next year. The unit is predicted to unveil its new premium televisions and refrigerator during the show.

Another key issue of the unit will be how to respond to the trade fight with the US appliance giant Whirlpool that had called on the US International Trade Commission to impose safeguard restrictions on Samsung and LG’s imported washing machines. The ITC recently decided in favor of Whirlpool imposing a 50 percent tariff on the products above 1.2 million units. The US President will make a final decision in February.

By Shin Ji-hye/ The Korea Herald (shinjh@heraldcorp.com)