[THE INVESTOR] Samsung Electronics’ biannual conference among top executives -- global strategy meetings -- kicked off on June 22.
The conference is held in June and December every year to evaluate the firm’s global operations and discuss business strategies for the future.
Three main business divisions -- electronic component, mobile, and consumer electronics -- will hold separate meetings on June 22, 25 and 26, respectively.
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As concerns over stagnant growth of its core businesses, including smartphones and TVs, are rising, finding solutions to address such troubling issues and tapping new growth engines will be among some of the main topics on the table.
Vice Chairman Lee Jae-yong does not participate in such meetings, according to a Samsung official, being a member of the owner family and not CEO he distances himself from managing details of the businesses.
The slowdown in smartphone sales is one of the imminent issues facing the mobile division. Smartphone shipments, which stood at 78 million in the first quarter, is anticipated to drop to 73 million in the second quarter, making it difficult for the firm to achieve its 350 million annual shipment goal. The latest flagship Galaxy S9, launched in March, is expected to record 30 million in sales -- lowest among the Galaxy S series since 2012.
“Samsung will likely record negative quarter-on-quarter growth in the April-June period, posting an operating profit of 15.1 trillion won (US$13.60 billion),” Eo Gyu-jin, an analyst from EBEST Investment and Securities said.
How to keep its lead in the semiconductor and OLED segments amid fierce competition with Chinese rivals is another agenda that will be discussed at the meetings while Samsung execs will put their heads together to come up with measures to beef up the firm’s capacity in emerging sectors, such as artificial intelligence and autonomous driving, according to sources.
By Kim Young-won (firstname.lastname@example.org)