Samsung will emphasis on promising businesses such as 5G and AI
It has been reported that Korean electronics maker Samsung is all set to expand its investments in the growing technology segments like 5G and AI to push growth and move ahead in rapidly changing technological industry.
It plans to push the technology innovation in order to overcome the adverse business environment,also to tackle the business challenges that are aimed at declining prices of memory chips and flattening demand for new smartphones globally.
Focus on promising businesses
Kim Ki-nam, Vice Chairman, Samsung Electronics has stated that the company plans to push for profound innovations across the divisions as the unfavourable business environment is expected to continue this year.
He further said that Samsung will continue to release innovative products in our home appliance and IT and mobile communication divisions to expand our market-leading position.
Samsung, considered as the largest handset and memory chip maker in the world, has recorded sales worth US$ 215.8 billion and operating profits of US$ 52 billion in 2018, a record high profits led by the booming demand of memory chips.
Samsung bids to push its 5G business as Huawei, the world’s biggest telecom equipment manufacturer, is facing increasing pressure from the US over the issues related to security protection.
The recent report by the market researcher IHS Markit has revealed that in the 5G equipment sector, Samsung only has a 3 per cent share as compared to Huawei’s 28 per cent share and 27 per cent share of Ericsson.
Samsung, considered as the largest handset and memory chip maker in the world, has recorded sales worth US$ 215.8 billion and operating profits of US$ 52 billion in 2018, a record high profits led by the booming demand of memory chips.Now it is planning to capture a share of 20 per cent in 5G equipment market by 2022.