Samsung Electronics kicks off global strategy meeting

Samsung Electronics began a two-day companywide global strategy meeting, industry sources said Tuesday, the first since it appointed new CEOs in its first major reshuffle in three years and streamlined its structure after 10 years earlier this month.

The biannual meeting used to take place in-person with attendance of hundreds of senior executives from at-home and abroad to discuss the company's global strategy and other core business issues. But it has moved online since last year amid the coronavirus pandemic.

Earlier this month, the Korean tech giant streamlined its structure into two divisions — Device Solutions (DS) and Device eXperience (DX).

The former includes its mainstay chip business, which made up more than 60 percent of Samsung's operating profit in the third quarter, and the latter oversees appliance, mobile and network businesses.

It is the first strategy meeting since new CEOs took office — CEO Han Jong-hee for the DS vision and CEO Kyung Kye-hyun for the DX division. The DS division held meetings Tuesday, followed by meetings by the DX division Wednesday.

Samsung executives are expected to discuss ways to create synergies in the newly created DX division and to review challenges from the global supply crunch, as well as the raging pandemic with the emergence of the new omicron variant.

On the device solutions front, the world's biggest memory chip maker is expected to check the development of a new $17 billion chip fabrication plant in Taylor, Texas, and its long-term plans to expand its competitiveness in the system chip and contract chip manufacturing segments.

Yonhap