Samsung offers its apologies and shares its plan to overcome the crisis.
Samsung claims that the only way to return is through "new technologies that are not yet available."
Samsung Electronics informed its investors about a nearly 2% drop in its operating profit for the third quarter, reaching 9.1 trillion won (approximately 6.15 billion euros), a figure that strays from the initial projections of 10.3 trillion won (around 7 billion euros). This decline is attributed to a slowdown in demand for electronic devices and increasing competitiveness in the sector.
In a letter, Jun Young-hyun, vice president of the company’s DS division, apologized to customers, investors, and employees globally, acknowledging that "the entire responsibility falls on us, who are leading the business." In his message, the executive highlighted concerns generated by performance falling short of expectations in terms of technological competitiveness and the future of the company. However, he also emphasized Samsung's legacy of turning challenges into opportunities.
The letter included several commitments from the company. First, the need to restore technological competitiveness was emphasized, reiterating that quality and innovation are fundamental to Samsung's identity. Additionally, the company expressed its intention to focus on creating "new technologies that do not exist in the world" as part of its strategy to regain its position in the market.
The importance of maintaining a proactive rather than a defensive mindset was also mentioned. Samsung committed to "reviving our passion to innovate fearlessly" and to staying steadfast in its goals. Finally, the executive announced the decision to review the organizational culture and working methods, aiming to identify and address issues immediately.
