“In this rapidly changing environment, we need
to keep our unwavering focus on the long-term,
fundamental leadership in technology,” Lee said
in a statement provided by Samsung.
Samsung is the world’s biggest maker of
memory chips and smartphones, strong both in
components and finished products.
The company saw its operating profit during
the last quarter drop more than 60% from a
year earlier because of falling chip prices and
sluggish demand for display panels.
Samsung has forecast that memory chip prices
will continue to fall in the second quarter
despite expectations for a modest improvement
in demand for mobile products.
Analysts say potential U.S. sanctions on Chinese
technology giant Huawei could hurt Samsung
by further reducing demand for chips used
such products.
In the long run, though, Samsung’s smartphone
business could benefit from sanctions against its
leading rival in that sector.Image: SeongJoon Cho