Saturday July 20, 2019
Home Lead Story South Korean ...

South Korean Tech Giant Samsung to Spur Innovation as Biz Challenges Rise

Samsung said earlier this week it will announce the updated schedule “in the coming weeks”, without elaborating

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 Commons

Samsung Electronics Vice Chairman Lee Jae-yong has called for senior executives to spur efforts to develop innovative technologies to tackle rising business challenges and foster new growth drivers, the company has said.

Lee, the de facto leader of the South Korean tech giant, held a meeting with senior executives of the IT and mobile division at the Suwon headquarters, south of Seoul, on Friday to discuss global strategies.

The global strategy meeting, which is held twice a year, has drawn keen attention as Samsung is faced with business challenges from the weak memory chip and handset business and uncertainties from a trade war between the US and China, Yonhap new agency reported on Sunday.

During the meeting, Lee called for the company officials to spur efforts to develop new technologies, including the 6G mobile network, blockchain and Artificial Intelligence and to expand global partnerships.

“We have to make bold investments for the future regardless of any changes in the business environment,” Lee was quoted as saying in a press release.

“No company can guarantee they will be around 10 years from now,” Lee said. “We have to have a mindset of starting new businesses, beyond resting on what we’ve achieved so far.”

samsung, tablet folded phone
The new Samsung S10 phones are displayed Feb. 20, 2019, in San Francisco. Samsung is hailing the 10th anniversary of its first smartphone with three new models that it hopes reverses a sales slump in an industry recycling the same ideas. VOA

His meeting with the handset division executives came two weeks after having a separate gathering with senior officials of the semiconductor and display business as the company was assessing the ripple effect from the US decision to put a ban on Chinese tech giant Huawei.

The world’s largest smartphone maker has grappled with slowing growth in the premium smartphone market, while losing a market share in the low-end and mid-tier segment to cost-effective Chinese makers.

According to industry tracker Strategy Analytics, Samsung shipped 71.8 million units of smartphones, or 21.7 per cent of the total, in the January-March period, with its market share falling 8 per cent from a year earlier.

Also Read- TikTok Launches ‘Device Management’ Feature for Safety of Users in India

Although the company tried to boost demand in the high-end market with its Galaxy Fold priced at $1,950, its April launch schedule has been constantly pushed back without further notice over durability issues.

Early reviewers pointed out that the device’s protective screen layer was easy to peel off and gaps made it easy for debris to damage the foldable display. Samsung said earlier this week it will announce the updated schedule “in the coming weeks”, without elaborating. (IANS)

Next Story

Apple Users are Replacing iPhones with Samsung: Report

People who chose Samsung repeatedly were in bigger numbers

0
Apple, smartphone
Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, Aug. 1, 2018. VOA

Less and less Apple users are sticking with iPhones when it comes to replacement and are switching to Android phones, especially Samsung, a new report by BankMyCell has said.

The iPhone trade-in site has been collecting data on the new device people have during the valuation and trade-in of their old iPhone. It essentially lets users sell their used phone and upgrade to a new one.

BankMyCell found that 18.1 per cent of iPhone users were trading in their device for a Samsung device in June, the highest level since it’s been in the study, according to a CNET report on Thursday.

samsung foldable phone
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. VOA

The site collected data from over 38,000 people trading in their phones since October through 2019 to track Apple brand loyalty during the upgrade cycle.

People who chose Samsung repeatedly were in bigger numbers.

Also Read: Oakland Becomes Second City to Ban Facial Recognition Technology

Just 7.7 per cent of Galaxy S9 users switched over to an iPhone and 92.3 per cent remained on the Android operating system (OS). In comparison, 26 per cent of people trading in their iPhone X are moving onto another brand, the report added. (IANS)