[THE INVESTOR] Samsung Electronics will hold a global strategic conference with executives from its overseas offices in Korea next week, according to the tech giant on Dec. 10.
The top executives from each of the three main business divisions -- device solutions, IT & mobile communications and consumer electronics -- will gather at various offices, including in Suwon, to review the performance of existing operations and discuss measures to respond to potential risks and find new growth engines.
Samsung holds global strategy meetings
The conference is held twice a year -- in June and December -- and the upcoming event will be held on Dec. 17-19.
Kim Ki-nam, Koh Dong-jin and Kim Hyun-suk, who respectively head the DS, IM and CE divisions, will participate in the three-day conference with heads of global offices.
It is not known whether Vice Chairman Lee Jae-yong, who helms Samsung Group on behalf of his bedridden father and Chairman Lee Kun-hee, will take part.
Since the owner family, including Lee, has been keeping a distance from day-to-day operations, they have not usually participated in such conferences.
It is expected, however, that the Samsung heir could have a meeting with the top brass. He was briefed about the firm’s research and development projects and core business strategies during a meeting in September with top executives.
The global strategy conference comes amid mounting challenges, such as an anticipated downturn in the chip market and fierce competition with Chinese smartphone makers.
Due to falling DRAM prices, Samsung’s profits from its chip business, which accounts for almost 80 percent of the entire profits, are expected to decrease next year.
Issues like the planned launch of the Galaxy S10 and the first foldable smartphone, and strategies to beef up capabilities in emerging artificial intelligence and 5G segments, will be on the table.
“The top execs will likely touch upon how to gain a competitive edge in the rising sectors while the trade conflict between the US and China, foreign exchange rates, and regulations will also be discussed,” a Samsung official said.
Local brokerage BNK Investment Securities forecast that the firm’s revenue next year is expected to stand at 240 trillion won (US$213 billion), down 3.8 percent from this year, while the operating profit will likely come in at 55 trillion won, down 14.5 percent.
By Kim Young-won (email@example.com)