Tuesday June 25, 2019
Home Lead Story Samsung to Fo...

Samsung to Focus on its Core Amid Rising Uncertainties: Report

The biggest challenge may be how uncertainty can hit their businesses any time, prompting Samsung officials to arm the company with the necessary tools to survive potential threats

0
//
samsung
To get ahead in the fast-changing tech industry, Samsung said it will expand investment in burgeoning tech segments to propel growth. Wikimedia

Sometimes in the world of business, the best defence is a good offence, and it seems like Samsung Electronics Co. Vice Chairman Lee Jae-yong wanted to share this message with a handful of key figures at the South Korean tech giant to fend off rising challenges to its business.

Lee held a meeting with five heads of Samsung’s major divisions over the weekend to discuss its business strategy amid a weak memory chip market and intensifying trade conflict between the US and China, Yonhap news agency reported on Monday.

The de facto leader of the world’s largest memory chip and handset maker vowed to spur innovation in key technologies and foster new growth engines to maintain a leading position in the rapidly changing technology industry.

“We shouldn’t be swayed by short-term opportunities and performances,” Lee was quoted as saying during the meeting with senior officials at a production line in Hwaseong, south of Seoul, on Saturday. “Samsung should focus on securing fundamental technologies for long-term businesses in a rapidly changing environment.”

The meeting came as Samsung faces headwinds from the downcycle of the memory chip and display businesses, coupled with the sluggish global smartphone market.

The semiconductor business, which accounts for over 70 per cent of its total revenue, has been in a downward spiral, with falling prices of DRAM and NAND flash chips this year. Its display division logged an operating loss in the first quarter, turning to the red for the first time since the first quarter of 2016.

Lee reaffirmed that the company will maintain its earlier plan to invest 133 trillion won ($112 billion) in the non-memory chip sector to become the world’s top industry player by 2030, calling it “the engine of the fourth industrial revolution.”

The rare statement directly quoting the Samsung heir came at a time when the US ban on Chinese tech giant Huawei’s equipment is complicating its business outlook in the closely interconnected global supply chain.

Smartphone, tablet folded phone
DJ Koh, president and CEO of IT and Mobile Communications, holds up the new Samsung Galaxy Fold smartphone during an event, Feb. 20, 2019, in San Francisco. VOA

Samsung earns over half of its money from the US and China, leaving the South Korean tech firm more vulnerable to prolonged trade conflicts between the world’s two largest economies.

While some market watchers held an optimistic view on Samsung’s smartphone and network sales in the wake of Huawei’s struggle, the Korean firm is taking a cautious stance as its value chain is interwoven with the Chinese company, a major client for its memory chips.

The biggest challenge may be how uncertainty can hit their businesses any time, prompting Samsung officials to arm the company with the necessary tools to survive potential threats.

“The meeting was held to align the business strategy in line with the changing global environment and make sure the massive investment is made without delay,” said Kim Ki-nam, the head of Samsung’s device solution division overseeing theglobal operation of its semiconductor business, without elaborating.

Also Read- ASUS Brings its New TUF Gaming Laptops in India

Meanwhile, Samsung’s leadership is under pressure from the expanding prosecution investigation into Samsung BioLogics Co., a bio health care unit accused of accounting fraud.

Last month, prosecutors indicted two vice presidents of Samsung Electronics on allegations of masterminding destruction of evidence related to Samsung BioLogics, putting a burden on the 51-year-old Lee, who is also awaiting the Supreme Court’s ruling on his bribery case.

Civic groups claimed the alleged accounting fiasco at BioLogics was ultimately intended to enhance the Samsung heir’s control of the sprawling group by inflating Cheil Industries Inc.’s stake in Samsung BioLogics ahead of its merger with Samsung C&T Corp. in 2015. (IANS)

Next Story

South Korean Tech Giant Samsung Launches 2 New Tablets in India

But the Galaxy Tab A 10.1 (Wi-Fi only) will be available for sales only on Amazon.in and Samsung e-Shop starting June 26. Galaxy Tab A 10.1 (Wi-Fi + LTE) will be available starting July 1, said the company

0
Samsung
Samsung also opened up its own voice-based assistant Bixby, allowing third party developers to build functionalities for the Artificial Intelligence (AI) assistant.

Strengthening its product portfolio in the stagnant tablet segment in India, Samsung on Monday launched Galaxy Tab S5e and Galaxy Tab A 10.1 which start at Rs 35,999 and Rs 14,999, respectively.

The Wi-Fi-only variant of Galaxy Tab S5e is priced at Rs 35,999, while the Wi-Fi +LTE variant is priced at Rs 39,999.

Galaxy Tab A 10.1’s Wi-Fi variant is priced at Rs 14,999, while the Wi-Fi +LTE variant is priced at Rs 19,999.

“Galaxy Tab S5e provides a PC-like environment on-the-go, thanks to DeX. It is a workstation and tablet rolled into one,” said Aditya Babbar, Director, Mobile Business, Samsung India.

“We’ve also redefined the entertainment experience with an immersive Super AMOLED display and perfectly-tuned, true-to-life quad speakers,” he added in a statement.

With 5.5mm sleek metal body, and weighing only 400g, Galaxy Tab S5e is not only ultra-portable, its battery life can support up to 14.5 hours of video streaming, Samsung said.

samsung
To get ahead in the fast-changing tech industry, Samsung said it will expand investment in burgeoning tech segments to propel growth. Wikimedia

Armed with Samsung DeX mode, Galaxy Tab S5e acts as a pop-up office for users. It allows the user to easily switch between DeX mode and Android mode by connecting the tablet to its dedicated POGO Keyboard which is sold separately.

Galaxy Tab A 10.1 comes with a metal unibody design and offers Full HD corner-to-corner display. The device weighs less than 470g and measures only 7.5 mm thick.

Galaxy Tab S5e will go on sale from Monday across all leading retail stores, Samsung e-Shop and Samsung Opera House.

Also Read: Tech Giant Apple to Launch 16-inch MacBook Pro in September

Galaxy Tab S5e’s Wi-Fi variant will also be available on Amazon.in, while the Wi-Fi +LTE variant will also be available on Flipkart, it added.

But the Galaxy Tab A 10.1 (Wi-Fi only) will be available for sales only on Amazon.in and Samsung e-Shop starting June 26. Galaxy Tab A 10.1 (Wi-Fi + LTE) will be available starting July 1, said the company. (IANS)