In light of the ongoing macroeconomic uncertainty, Samsung executives are planning several company-wide global strategy meetings before the end of the year to discuss the mobile phone and home appliance businesses, as well as the future of the chip-making division.
The Device Experience (DX) division of Samsung will hold a meeting on Thursday and Friday of the following week. This week, the division entered emergency mode as Samsung Electronics decided to reduce business expenses and international travel.
Meanwhile, the chip division of Samsung will hold its meeting around December 22. The tech giant’s semiconductor business experienced a 50% year-over-year decline in the third quarter of 2022 due to a decline in consumer spending power. (through The Korea Times)
Hundreds of senior executives will attend the meetings, which will be held in part online. They will discuss strategies to overcome escalating obstacles brought on by the sluggish global economy, geopolitical tensions, and low consumer demand.
Meanwhile, Samsung anticipates that its chip factory in China will continue to produce more chips
Similarly, a separate report indicates that Samsung anticipates its chip output from its Xi’an, China, facility to reach $14.3 billion by the end of 2022.
According to DailyTimes, production at the Xi’an factory has never stopped in the past three years. With the assistance of the local government, Samsung was able to overcome logistical and supply challenges despite the COVID epidemic.
