Samsung in 'do or die' situation'; Lee sounds crisis alarm

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Samsung in 'do or die' situation'; Lee sounds crisis alarm - Korea Economic Daily

Quick Summary:

Chairman Lee Jae-yong has warned the company's executives that the South Korean tech giant has lost its characteristic "relentless" Samsung Spirit, calling on them to overcome the current crisis with a "do-or-die" attitude.“Samsung faces a question of survival,” Lee was quoted as saying through a video message shared during recent executive seminars for the company and its affiliates".

The attendees received crystal plaques inscribed with their names alongside the phrase: "Samsung talent: Strong in crisis, adept at turning the tide and fierce in competition".“The takeaway was clear: Samsung has grown complacent and we must now become tougher and more determined,” said one seminar attendee.

Its share in the global smartphone market contracted to 18.3% versus 19.7%, while its market share in the DRAM sector fell to 41.5% versus 42.2% over the same period, according to Samsung's 2024 annual report.