Samsung, South Korean company that is one of the world’s largest producers of electronics devices. Samsung specializes in the production of a wide variety of consumer and industry electronic, including appliances, digital media devices, semiconductors, memory chips, and integrated systems. It has become one of the most-recognizable names in technology and produces about a fifth of South Korea’s total exports. It’s at the forefront in the race of innovations. It was founded 47 years ago and now it has 307,000 employees working for it.
Understanding the latest circumstances as a “new crisis” phase for Samsung Electronics, the top conglomerate in Korea appears to be seeking measures to tackle a series of challenges looming large over the tech giant, according to industry sources Monday.
According to Samsung, during the four-hour meeting the vice chairman emphasized, “Samsung should not be satisfied with or disappointed by short-term outcomes and opportunities, and what we shouldn’t give up amid a fast-changing environment is long-term and fundamental technological prowess.”
The top management to execute plans to invest 180 trillion won ($153 billion) and hire 40,000 employees over three years “without shaking (failure).”
“The latest remark is considered the strongest made by the vice chairman, which suggests that the current situation involving Samsung is grave, and is a new crisis,” a Samsung official said.
Mr. Shobhit Grover BBA Third Semester TIAS