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

CTOnews.com, May 19 (Xinhua) according to South Korean media The Elec, Samsung's career support department asked the TV and smartphone division to put forward relevant measures to improve performance in response to the offensive of its main competitor LG Electronics.

▲ photo source: Samsung Electronics website reported lacklustre results in the first quarter of 2023, with revenue of 63.7 trillion won (CTOnews.com Note: currently about 335.062 billion yuan), operating profit of 640 billion won (currently about 210 million yuan), and operating profit plummeting 96% from a year earlier. The operating profit of Samsung's device experience division, which is responsible for mobile products such as consumer electronics and mobile phones, is about 4.2 trillion won (currently about 22.092 billion yuan), down 350 billion won from a year earlier (currently about 263 million yuan). Of this total, the operating profit of the home appliance department, including television, is about 190 billion won (currently about 473 million yuan), down nearly 80 per cent from a year earlier.

Samsung Electronics' main competitor, LG Home Entertainment, has an operating profit of about 200.3 billion won (currently about 1.06 billion yuan), a home appliance and air conditioning division of about 1.02 trillion won (currently about 5.365 billion yuan), and a combined operating profit of nearly 1.2 trillion won (currently about 6.312 billion yuan). Sony Electronics' operating profit is 179.5 billion yen (currently about 9.137 billion yuan). Samsung's operating profit of 190 billion won (currently about 473 million yuan) from its TV and home appliance division also means it has been overtaken by its old rivals Soni and LG. As a result, the Samsung career support working group recently held an internal meeting asking the TV and smartphone departments to take all-out measures to improve the business situation.

Samsung's strategies to improve its business include speeding up the pace of product releases. CTOnews.com has previously reported that Samsung is considering early launch of new products such as the Galaxy Z Flip5 / Z Fold5, hoping to take advantage of the new product release effect to seize the window before the launch of the new iPhone. In addition, it is revealed that Samsung will advance the release to July 26 instead of Samsung's traditional mid-August release, which will reflect the effect of the new product's performance in advance in the third-quarter results, but the actual effect remains to be seen.

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