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Samsung CEO says the company has to keep an open mind, senses tough economic situation in 2012

Posted: , by Daniel P.


Samsung CEO says the company has to keep an open mind, senses tough economic situation in 2012
Samsung's CEO Lee Kun Hee did a little pep talk for the troops, and his speech was distributed to the media, highlighting that the electronics maker expects tough times for the world economy in 2012. Low growth is likely to plague the macro situation for the whole of this year, he said, which will inevitably affect demand for consumer electronics.

Lee also said “Samsung’s future hinges on new businesses, new products and new technologies. We should make our corporate culture more open, flexible and innovative.

Samsung is expected to post record sales and profits from its mobile business in the holiday quarter. In Q3 it surpassed Apple as the world's largest smartphone maker, but the iPhone 4S wasn't introduced then. Samsung also revved up its profit margin to levels not seen for quite some years, and the trend is expected to have continued in Q4. 

In related news, Samsung got the nod from the Korean government, to go and build a huge memory factory in China, on top of the giant one it is already operating in Austin, Texas, so the company seems optimistic about the future, just not so much for 2012.

source: Bloomberg & WSJ

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posted on 04 Jan 2012, 05:58

1. aries.phills (Posts: 140; Member since: 17 May 2011)

It is well with me, sammy and every good person out there.

posted on 04 Jan 2012, 06:22

2. Bluesky02 (Posts: 1439; Member since: 05 Dec 2011)

No doubt they are doing amazing. Got a Samsung Tv and Refrigerator both working well. Yet i don't understand why two Samsung Laptops from my mate got broken with both same issue. The keypad stop working after 2yrs use. Even though he's very careful at electronic stuff.

posted on 04 Jan 2012, 13:36

3. 530gemini (Posts: 2198; Member since: 09 Sep 2010)

Hmmmm, this is a lie. According to fandroids, samsung is doing better than Apple, so how can this be? Lol.

posted on 04 Jan 2012, 15:07

4. taz89 (Posts: 2014; Member since: 03 May 2011)

samsung are doing great in smartphones and chips and screens etc but samsung are involved in a LOT MORE other businesses that apple are not involved in such as medical instruments,heavy industries,construction,insurance etc..in smartphone yeah they have experienced great growth and it may possibly be doing better than apple in the smartphone area.

posted on 04 Jan 2012, 19:33

5. 530gemini (Posts: 2198; Member since: 09 Sep 2010)

And since when did PA ever include samsung's other line of business on here? Lol. You speak as if PA regularly talks about samsung's tv's, fridge, washing machines, dryers, etc on here.

posted on 04 Jan 2012, 19:43

6. taz89 (Posts: 2014; Member since: 03 May 2011)

PA obviously don't report on them other divisions because it's not what there site is about but Samsung CEO is talking about Samsung as a whole and PA do report on Samsung last I checked lol.division such as the mobile sector is booming but just because Samsungs Mobile division is booming does not mean every other division is....when.people speak of Samsung doing better than apple they are most likely talking about the mobile division...

posted on 05 Jan 2012, 01:46

7. Dr.Phil (Posts: 1064; Member since: 14 Feb 2011)

They are doing fine, they are saying that the world economy may slow again or slightly fall again in 2012. That means that overall, every product would be affected. So, mobile phones, televisions, etc are all affected by this. This means that Apple too will be experiencing troubles as well.

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