South Korea Report: Samsung boss swears managers in for crisis
The CEO of Samsung Electronics, Lee Jae Yong, is swearing his managers to an existential crisis. It is a "question of survival or death", South Korea's official news agency Yonhap quoted from a video message from Lee.
17.03.2025, 05:16
SDA
The video was played in front of around 2,000 of the company's managers during a training seminar. "We must invest in the future, even if it means sacrificing immediate profits," Lee was quoted as saying.
Samsung Electronics is by far the largest company in South Korea. However, the manufacturer of computer chips, smartphones and televisions is currently facing major challenges. Samsung is lagging behind in the development of high-performance semiconductors in the AI market. Domestic competitor SK Hynix is putting the company under particular pressure. The company has also lost market share worldwide in the television and smartphone sectors.
Samsung Electronics' business figures for the fourth quarter of 2024 have already fallen well short of economists' expectations. Analysts interviewed by the Yonhap news agency now assume that Samsung Electronics' operating profit could fall by more than 20 percent in the current first quarter of the year.
