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Samsung to Foster Growth by Investing in AI and 5G

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

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

Samsung Electronics Co on Wednesday said it will propel technology innovations to tackle the unfavourable business environment and foster new growth drivers such as artificial intelligence (AI) and 5G.

Samsung vowed to step up its innovations to overcome business challenges amid falling prices of memory chips and flattening global demand for new smartphones.

“The company plans to push for profound innovations across the divisions as the unfavourable business environment is expected to continue this year,” Kim Ki-nam, vice chairman of Samsung Electronics, said at a meeting at the company headquarters attended by about 1,000 investors.

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“We will focus on new, promising businesses, such as AI and 5G, to bring meaningful changes and will actively respond to new business opportunities,” Kim said. Pixabay

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

“We will focus on new, promising businesses, such as AI and 5G, to bring meaningful changes and will actively respond to new business opportunities,” Kim said.

Announcing business plans during the shareholders meeting, the first since a 50:1 stock split in May which was aimed at making it easier for retail investors to purchase stakes in the firm, Kim said: “We will continue to release innovative products in our home appliance and IT and mobile communication divisions to expand our market-leading position.”

The world’s largest handset and memory chip maker said it posted $215.8 billion in sales and $52 billion in operating profits last year on a consolidated basis, posting record high profits driven by the boom in memory chips, Yonhap news agency reported.

 

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Its bid to propel its 5G business comes as Huawei, the world’s largest telecom equipment maker, faces growing pressure from the US over security protection issues. Pixabay

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Its bid to propel its 5G business comes as Huawei, the world’s largest telecom equipment maker, faces growing pressure from the US over security protection issues.

The Korean tech firm currently has a mere 3 per cent share in the 5G equipment sector, lagging far behind Huawei’s 28 per cent and Ericsson’s 27 per cent, according to market researcher IHS Markit.

The company has set a goal of capturing a 20 per cent share in the 5G equipment market by 2022. (IANS)

Next Story

Samsung Galaxy Fold Launch Postponed in China: Report

The Galaxy Fold is expected to be priced around Rs 1,40,790 in India

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FILE - The Samsung Galaxy Fold phone is shown on a screen at Samsung Electronics Co. Ltd.’s Unpacked event in San Francisco, Feb. 20, 2019. Samsung says it will look into some reports of flickering or cracking screens. VOA

Samsung has postponed the Galaxy Fold’s launch events in Hong Kong and Shanghai, which were originally scheduled for April 23 and 24, days after some units of the $2,000 foldable phone encountered major display issues.

“The firm is blaming the decision on a last minute issue with the venue, according to someone claiming to be familiar with the matter.

“But that seems a little too convenient seeing as the handset has been under heavy fire all week, after a number of units broke after being in the hands of reviewers for less than a day,” the SamMobile reported late on Sunday.

Tech reviewers from renowned media brands like The Verge and the CNBC noted issues like screen flickering, display distortion and unexplainable bulges bugging the industry-first device, reports said last week.

The handset maker obviously doesn’t want to associate these delays with the broken review units, but given the timing, chances are Samsung wants to buy more time to address these issues before the next wave of shipments, according to the Engadget.

Sub-titling the review “Yikes”, The Verge said that the flaws were “distressing to be discovered just two days after receiving the review unit”.

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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

Defending its devices just days before its roll-out, a Samsung spokesperson assured that the firm would “thoroughly inspect” the units.

The super-expensive foldable smartphone was launched during the Mobile World Congress in Barcelona in February followed by Huawei launching its own foldable phone, the Mate X.

According to market research firm Gartner, foldable phones would make up 5 per cent of high-end phones sales by 2023 with around 30 million units.

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The phone comes with the world’s first 7.3-inch Infinity Flex Display, which folds into a compact device with a cover display that is capable of opening up to three active apps simultaneously on the main display.

The Galaxy Fold is expected to be priced around Rs 1,40,790 in India. (IANS)