April 24, 2024

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[THE INVESTOR] Samsung Electronics on Nov. 1 celebrated its 49th anniversary, with senior management urging employees to brace for tougher competition in the global IT environment.

The Korean tech giant, which was established in 1969, has emerged to become one of the world’s leading producers of memory chips, smartphones and TVs.

“Since its launch, Samsung was able to overcome numerous hurdles through challenges and innovation, eventually to become a world-class company on the back of the dedication made by employees,” Samsung Electronics President Kim Ki-nam said in a statement.

Kim said the global trade disputes and the competition in the field of 5G network and artificial intelligence has intensified throughout this year, urging employees to keep up their best efforts.

“We need to secure a solid business structure and product portfolio, and beef up our capabilities to maintain growth. We need to establish a strong business foundation so that the company does not falter from any outer challenges,” Kim said, highlighting the importance of studying markets and consumer needs.

Samsung Electronics was first established in January 1969, but the foundation date is commemorated on Nov. 1, as the company merged with a semiconductor arm on the date in 1988.

In line with the celebration of the anniversary, the company said it will donate some 500 packages of supplies that can help children keep warm throughout the winter months.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)