Samsung Electronics plans to boost its on-device AI capabilities, projecting that its consumer electronics unit will outperform the overall global market growth this year. The world's leading smartphone and TV manufacturer anticipates a 4-5% growth in its mobile devices business this year, while growth in its TV and home appliances segment is also expected to accelerate.
CEO Jong-Hee Han revealed that the global consumer electronics market for smartphones, TVs, and home appliances is projected to grow by approximately 3% in 2025. Samsung, known for its premium flagship smartphone models like the Galaxy S24 series, is enhancing its AI functionalities on these devices. Han emphasized that competition from Chinese companies is beneficial for both Samsung and consumers, stating that the company aims to distinguish its products through enhanced security and convenience rather than price reductions. Samsung, once a leading force in the memory chip sector, has faced challenges in the high bandwidth memory (HBM) chip market, lagging behind SK Hynix in supplying chips crucial for AI leader Nvidia. Despite these challenges, Samsung Electronics reported a robust operating profit of approximately 10.1 trillion won ($7.6 billion) for the second quarter of 2023, a notable increase from the 2.8 trillion won recorded a year earlier, albeit lower than the 9.18 trillion won in the preceding quarter. Last year, Samsung's shares experienced a 32% decline, outpacing the broader Kospi's 9.6% loss
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Source: CNBC - 🏆 12. / 72 Read more »