Hundreds of Samsung execs to hold company-wide meetings

Samsung executives are planning a few company-wide global strategy meetings before the end of the year to discuss the mobile phone and home appliance businesseses, as well as the future of the chip-making division amid the ongoing uncertainties in the macroeconomic environment.

Samsung’s Device Experience (DX) division will hold a meeting next week on Thursday and Friday. The division also entered emergency mode earlier this week, as Samsung Electronics decided to cut down on business expenses and overseas trips.

Meanwhile, Samsung’s chip arm will hold its meeting around December 22. The tech giant’s semiconductor business experienced a ~50% year-on-year drop in Q3 2022 as consumer spending power diminished. (via The Korea Times)

The meetings will be attended by hundreds of senior executives and will be held partly online. They will discuss strategies to overcome mounting challenges caused by the sluggish global economy, geopolitical tensions, and low consumer demand.

Meanwhile, Samsung expects to continue pushing out more chips from its chip plant in China

At the same time, a different report suggests that Samsung expects its chip output from its plant in Xi’an, China, to reach a value of $14.3 billion before the end of 2022.

According to DailyTimes, the factory at Xi’an never stopped production over the past three years. And despite hurdles related to the COVID epidemic, Samsung managed to overcome logistics and supply challenges with the help of the local government.

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