Shulou(Shulou.com)11/24 Report--

CTOnews.com, December 28, Samsung recently held a meeting with the chief executives of all its subsidiaries. The meeting mainly discussed the economic downturn and the plight of the recession next year, including falling semiconductor prices, falling currency exchange rates, and further interest rate increases.

The Samsung high-level meeting was held at the Samsung Electronics leadership Center in long in Gyeonggi Province, South Korea. However, Lee Jae-yong, the de facto leader of the Samsung Group, did not attend the meeting.

Samsung executives shared this year's business performance and different strategies the company will adopt to accelerate its business. This also includes what measures Samsung will take to address various macroeconomic challenges. As the Korea Herald pointed out, the level meeting was held for the first time in six years, at which senior executives from Samsung affiliated companies exchanged views.

According to sources, Samsung is worried about the bleak market outlook for next year. In particular, with the failure of the semiconductor market next year, Samsung Electronics is expected to lose money in the fourth quarter of 2022. Its operating profit fell 31.4% from July to September compared with a year earlier, according to the company's regulatory filings.

CTOnews.com learned that Samsung's operating profit in the fourth quarter of 2022 will reach 7.34 trillion won (about $5.79 billion, about 40.223 billion yuan), according to research firm FnGuide. This is 47% less than the same period last year. According to market research, Samsung's operating profit in the first quarter of 2023 will fall 57% from a year earlier.

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