Samsung Sees High Economic Uncertainty but also Identifies New Opportunities in AI
Samsung Electronics, the world’s largest maker of memory chips, expressed optimism amidst macroeconomic uncertainties, citing the rise of artificial intelligence as a new opportunity. At an annual meeting of shareholders, Vice Chairman and CEO Han Jong-hee reassured investors of the company’s commitment to technological innovation in AI and new businesses for sustainable growth.
Han Jong-hee emphasized Samsung Electronics’ proactive stance in embracing the full-scale AI era, stating, “Although uncertainties in the macroeconomic environment are expected to be high this year, new opportunities will also be increased through next-generation technological innovations.” The company plans to pay dividends worth 9.8 trillion won (US$7.3 billion) for 2023, demonstrating its confidence in the future.
Despite facing challenges in the semiconductor market, Samsung Electronics reported a net profit of 15.48 trillion won last year, marking a 72.2 per cent decrease from the previous year. Sales also decreased by 14.3 per cent to 258.93 trillion won, reflecting the impact of sluggish demand for semiconductors on the company’s financial performance.
Moving forward, Samsung Electronics remains committed to expanding its technological innovation in AI and other new businesses to ensure sustainable growth in the face of macroeconomic uncertainties. The company’s strategic focus on embracing emerging technologies positions it well to capitalize on future opportunities and drive continued success in the global market.
In conclusion, Samsung Electronics’ outlook for the year ahead is marked by a blend of challenges and opportunities, with a strong emphasis on leveraging artificial intelligence and technological innovation for sustained growth. The company’s commitment to shareholder value through dividends and strategic investments underscores its confidence in navigating the evolving landscape of the semiconductor industry and emerging technologies.
