Seoul [South Korea], June 18 : Samsung Electronics began its semi-annual global strategy meeting on Tuesday, with an agenda to map out business plans for the second half, against a turbulent backdrop, as reported by the Korea Herald.
According to the Korea Herald report, the turbulent backdrop signifies geopolitical tensions in the Middle East, and renewed trade friction could cloud the global business landscape.
The top agenda of the meeting includes semiconductor rebounds, supply chain risks, and the foldable phone launch strategy
Samsung Electronics' semi-annual global strategy meeting is a three-day closed-door meeting that brings together top executives from headquarters and regional subsidiaries. This meeting, "held annually in June and December, serve as key touchpoints for aligning regional and divisional goals, reviewing market-specific challenges and refining marketing strategies," the Korea Herald said.
In the meeting, the Mobile eXperience division within the DX division convened to finalize plans for the global rollout of its next-generation foldable smartphones the Galaxy Z Flip7 and Fold7, which are scheduled to release next month. Along with that, Regional launch strategies and sales targets were also some important topics discussed in the meeting.
However, the following days will see strategy sessions held by the Visual Display and Digital Appliances divisions on Wednesday and by corporate-wide divisions on Thursday, focusing on reviewing first-half performance and setting a course for the remainder of the year.
Additionally, the DS division, which looks after the semiconductor operations, is set to hold its strategy meeting on Wednesday. In the meeting, they will first-half performance, and executives will examine action plans to regain momentum in a faltering chip market.
Recently, Samsung lost its long-held No. 1 position in the global DRAM market to its crosstown rival SK hynix in the first quarter. This was weighed down by challenges in high-bandwidth memory and foundry services have also weighed on the firm's outlook.
Industry sources suggest that this meeting will also focus on revisiting the semiconductor road map, along with enhancing organizational culture and strengthening long-term competitiveness.
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