Samsung plans to boost its competitiveness within the world tech business this yr by way of technological excellence and suppleness. The corporate revealed its strategic priorities in a memo to workers on the event of the brand new yr earlier immediately. The memo, signed by two top-level executives, outlined varied methods to keep up a aggressive edge.
Samsung prioritizes tech supremacy and suppleness this yr
In response to a Korea Bizwire report, Samsung’s New 12 months memo to workers was collectively signed by its co-CEOs Han Jong-hee and Kyung Kye-hyun. Han can be a Vice Chairman on the firm and heads its DX Division, which encompasses the visible show, digital home equipment, house home equipment, well being and medical gear, cell expertise, and networks companies.
Kyung, in the meantime, is a President at Samsung and the Director of SAIT (Samsung Superior Institute of Expertise), the Korean behemoth’s analysis and growth unit. He additionally leads the semiconductor enterprise division. Of their joint memo, the 2 co-CEOs highlighted the necessity to widen the technological hole with its opponents to remain forward of the curve.
“We are going to prioritize strengthening our basic competitiveness, together with the core values which have guided Samsung Electronics, reminiscent of super-gap applied sciences,” they stated. The Samsung executives inspired the chip division to create a technological benefit. The semiconductor enterprise has been its money cow for years however suffered large losses in 2023 resulting from a number of components.
Han and Kyung emphasized a customer-first strategy for cell, house home equipment, and software program divisions. They urged workers to concentrate on efficiency and high quality. The Samsung executives additional burdened the should be proactive to shortly adapt to modifications within the business. These embrace the fast rise in the usage of synthetic intelligence (AI) over the previous yr and rising eco-friendly practices.
AI shall be pivotal to all technological developments this yr
“We should always revolutionize the best way we work and our gadget expertise by making use of generative AI to work,” the memo learn. “Shifting from the passive inexperienced response of the previous, we must always pull off a basic shift in considering and uncover the inexperienced merchandise of the longer term.” Samsung’s upcoming Galaxy S24 flagships convey tons of latest AI options. The gadgets are additionally anticipated to make use of extra recycled materials.
It stays to be seen if these strategic strikes convey a change to Samsung’s fortune this yr. 2023 has been a forgettable yr for it, at the least financially. Within the first 9 months of final yr, the corporate generated a sales revenue of about $147 billion, down over 17 % from the identical interval in 2022. Its working revenue tumbled a whopping 90 % to simply $2.9 billion. Samsung will publish its full-year earnings report for 2023 later this month.