Samsung Electronics held its 51st regular shareholders' meeting at the Suwon Convention Center on March 18. About 400 shareholders and institutional investors, including Vice Chairman Kim Ki-nam, President Kim Hyun-suk, President Ko Dong-jin, attended the meeting and approved such agendas as financial statement approval, appointment of in-house directors, and approval of the limit on the repair of directors.
"The global economy stopped growing last year and difficult business conditions such as sluggish memory industry and intensifying competition continued," Kim said. "This has slowed management performance, which led to 230 trillion won in sales and 28 trillion won in operating profit."
"Despite these conditions, semiconductor businesses continued to innovate with super-difference technologies such as 10-nano DRAM and 7-nano EUV process," he said. "Consumer Electronics (CE) also leads innovation in lifestyle through QLED 8K TV, vertical TV, and Bespoke refrigerators."
"In particular, IT and mobile businesses have maintained their position as the top smartphone makers by releasing foldable phones and are leading the next generation of telecommunication markets through commercialization of 5G for the first time in the world."
"With such efforts, the brand value of Samsung Electronics surpassed $60 billion last year for the first time, solidifying its status as a global leading company," he added.
In addition, he explained next-generation projects to lead the future. In particular, he expressed confidence in the foundry (semiconductor consignment production plant) market, the next-generation semiconductor food.
"Many customers are looking for Samsung in the foundry market these days," Kim said. "We will make it more competitive in high-tech processes so that the company can develop more."
"To lead the future, the company will pursue continuous technological innovations such as AI-only semiconductors and foldable phones and preempt business opportunities through investments in future technologies such as system semiconductors and QD displays," he added.
Regarding the detailed investment plan, "the company said it will invest 133 trillion won in R&D and production facilities by 2030, and 13 trillion won in QD displays by 2025," he said.
At the shareholders' meeting, CEO Kim Hyun-suk of the CE division and CEO Ko Dong-jin of the IM division also explained the management status of each business sector.
Related to the performance, "TVs and refrigerators remained the top market share despite changes in the business environment and intensifying competition," CE chief executive Kim Hyun-suk said.
"While external uncertainties are increasing recently, this year's CE market will expand its connection to devices based on next-generation networks such as 5G, and IoT will move forward quickly as big data and AI technologies are combined," he added.
"The smartphone market is expected to shrink this year in the aftermath of Corona 19, but demand for 5G smartphones will grow," said Koh Dong-jin, president of IM division.
"We firmly established leadership of 5G mobile network by releasing the world's first 5G smartphone last year," he said. "In addition, we released foldable Smartphones and opened a new mobile category."
"Samsung Electronics plans to provide new experiences to consumers through convergence of 5G, AI and IoT technologies," he said. "As an industry leader, we will lead the new decade through the latest technology and innovative products."