Chairman says Samsung to focus on new products

Samsung is the world's largest technology company by revenue
South Korea's Samsung Electronics will this year focus on developing new products and tapping into new businesses to get ahead of competitors amid the global economic slowdown.

South Korea's Samsung Electronics will this year focus on developing new products and tapping into new businesses to get ahead of competitors amid the global economic slowdown, its chairman said Monday.

Lee Kun-Hee, in a New Year's speech to employees, said existing businesses would experience a stagnation in growth, and that new start-ups would provide the best opportunities even although they will find it increasingly competitive during the downturn.

"Samsung's future lies in new businesses, new products and new technologies," he said, stressing the need for "increasing investment and jobs and focusing on exports."

Samsung is the world's largest technology company by revenue and closely competes with Apple in the fast-growing smartphone market.

It is also the world's leading memory chipmaker and makes a wide range of products from semiconductors to TVs and .

"We should change our corporate culture in ways that are more open, flexible and innovative. We should only think about something new and breaking all existing rules," he said.


Explore further

Samsung heir to attend Steve Jobs memorial service

(c) 2012 AFP

Citation: Chairman says Samsung to focus on new products (2012, January 2) retrieved 24 January 2020 from https://phys.org/news/2012-01-chairman-samsung-focus-products.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments