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Samsung Electronics president: "Next year will be tough"
For those Samsung fans who have been following the company in the news recently, there is a recurring theme going on: performance and change. The OEM’s Q3 earnings were quite profitable though due to component sales and a favorable exchange rate, not smartphone sales. Last month the conglomerate’s CEO said “if we resist changes, then we won’t survive” and just this week J.K. Shin was replaced as the head of Samsung Electronics.
Dong-jin Ko, who replaces Mr. Shin, told reporters earlier today that, “Next year will be tough” and that he doesn’t anticipate the mobile segment to see a “huge upturn”.
Mr. Ko’s remarks came following a weekly meeting with key leaders of Samsung Group affiliates, and included commentary that he will be working closely with J.K. Shin, who was recently reassigned to mid-term strategies. Still, Mr. Ko sought to downplay any panic that might possibly ensue, stating that, “No major organizational overhaul is set” because the business is not in “deep trouble.”
Samsung has been facing keen competition in recent years from Chinese OEMs, and with it diminishing market share and profits. In a new report yesterday, insider sources claimed that the Galaxy S7 and Galaxy S7 Edge will forgo a major design refresh and instead focus on internal component upgrades such as the SoC, display, camera, and memory. Rumors have also been circulating that the S7 will see a return to microSD support after Samsung chose to remove it this year, much to the displeasure of some long-time customers.