On Tuesday, the top executives of Samsung Electronics hold a meeting at the leadership center in Yongin, Gyeonggi Province. And the motive of this instant meeting was to discuss the business performance of this year and business strategies for next year.
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According to the report of The Korea Herald, all the affiliated CEOs of Samsung Group mainly discussed the economic downturn of next year and the recession woes, including falling semiconductor prices, dipping currency rates, and further rate hikes.
Moving on, the industry source also stated that the current chairman of Samsung Electronics Lee Jae-Yong, the de facto leader of the group, was not present in the meeting. It was the first time in six years for the groupwide leadership meeting to be held at Samsung after its suspension in 2017.
Samsung companies have held several emergency meetings this year. At the end of June, 25 CEOs of key tech companies including Samsung Electronics, Samsung Display, and Samsung SDI gathered to address growth uncertainties in the global markets.
At last, it could be said that the company is relatively concerned because of the expected decline in the global market next year. As the Korean tech firm, this year also receive a fall in its profit in Q4. Further, the operating profit of chip makers in Q4 also saw a decline of about 47 percent on-year.
The market tracker further predicted Samsung’s operating profit for the January-March period to plunge 57 percent on-year.
