Business
Samsung’s Mea Culpa: Tech Giant Apologises for Underwhelming Quarterly Results Amid AI Chip Surge, Pledges Organisational Overhaul
Samsung expresses regret for unsatisfactory quarterly outcomes amidst AI chip surge
Unusually, the corporation commits to reassessing its corporate culture and strategies to boost competitiveness.
The corporation is set to reassess its corporate culture and procedures, according to Jun Young-hyun, the recently designated leader of its semiconductor division, who made the announcement in a press release. He stated, "Instead of depending on temporary fixes, we will concentrate on strengthening our enduring market viability." He acknowledged that, "These are challenging periods."
The largest global producer of memory and smartphones announced an estimated operating profit of approximately 9.1 trillion won (US$6.8 billion) for the quarter ending in September, falling short of the projected 11.5 trillion won. The company stated that earnings were impacted by a single instance of costs associated with provisions for performance-linked bonuses.
The income amounted to 79 trillion won, which was less than the anticipated 81.57 trillion won.
Samsung intends to release a comprehensive financial report detailing net earnings and departmental divisions later in the month.
"We acknowledge that we have sparked worries regarding our technical prowess, with some discussing the challenges Samsung is encountering," Jun stated. "As business leaders, we completely accept accountability for this situation."
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.