South Korean tech giant Samsung Electronics Co. has kicked off a global strategy meeting on Tuesday with the goal of examining measures to address the dim business outlook for the second half of the year.

According to multiple industry sources, the device experience (DX) division led by the company’s Vice Chairman Han Jong-hee will hold a three-day meeting to discuss global strategies, starting with the mobile experience (MX) division at Suwon plant on Tuesday, followed by the video display (VD) and home appliances (HA) divisions on Wednesday and the entire company on Thursday.

The device solutions (DS) division, which Chief Executive Officer Kyung Kye-hyun oversees, will meet Tuesday at Hwaseong plant.

The company’s global strategy meeting, held twice a year in June and December, brings together key executives and heads of overseas entities to share current issues by division and region and discuss sales strategies.

This year’s meeting will be attended online and offline by more than 230 executives at home and abroad, including over 100 from the DX division and 130 from the DS division, who will discuss business strategies and crisis responses for the second half of the year.

The MX division, which helped defend first-quarter earnings for the DX division with strong sales of the Galaxy S23 smartphones, is expected to share marketing strategies for the Galaxy Z Fold 5 and Flip 5, which will be unveiled in the second half of this year. Samsung Electronics will hold its Galaxy Unpacked Event to introduce new products for the first time in Korea next month.

The VD and HA divisions, which are struggling amid an economic downturn, will examine market changes following the transition of the pandemic to an endemic and discuss sales strategies for flagship products and ways to improve competitiveness in the second half of the year.

The DS division will also review the performance and second-half strategies of each business unit and seek ways to overcome the semiconductor crisis.

The meeting will also discuss ways to expand new orders for foundries globally, mid- to long-term technology development roadmaps, and strategies to gain early competitive edges in future markets based on the outlook for the second half as the chips business is expected to log losses in the second quarter.

In a recent post on his social media page, Kyung shared the details of his business trip to five cities including Tel Aviv of Israel, Munich of Germany, and Amsterdam of the Netherlands and emphasized that “future technologies cannot be created alone.” “We need to picture the future with a long-term perspective for innovation and partnership with various players,” he added.

Samsung Electronics, in the meantime, is scheduled to unveil its cutting-edge intellectual property (IP) roadmap strategy and a plan to strengthen cooperation with its IP partners such as Synopsys Inc., Cadence Design Systems, Inc. and Alphawave Semi at the Samsung Foundry Forum in San Jose, California, on June 28.

By Pulse

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