COMMUNICATION WITH GLOBAL INVESTORSAfter the IFA 2024, he will fly to London to meet with global investors and share its business achievement and portfolio in detail as it is transforming into an AI-based company with a focus on future mobility, robots and smart factories.“In the home appliance sector, played down as a mature market, we have achieved a growth rate of over 10% for several years with an operating profit margin close to 10%,” Cho told reporters “We have a balanced business portfolio, with business-to-business transactions accounting for 35% of total sales.
To maintain its leadership in the home electronics market, Cho said that it willincrease its product affordability to 70-90% of the customer group, from its current target of 60%.“We must not follow the footsteps of Japanese companies that lost market share to us by maintaining a premium strategy, not producing cost-effective products,” he noted.
At IFA 2024, he witnessed the significant narrowing in the gap with Chinese rivals such as TCL and Highsense, which showcased some of the world's first and world's largest products for the event.“We need to be on high alert (to Chinese companies) from the perspective of product diversification,” Cho added.
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