It expects an operating profit of 6,160 million in the third quarter, almost four times more than a year ago, but 12.8% less quarterly
Oct. 8 () –
The South Korean technology giant Samsung Electronics issued an unusual note this Tuesday apologizing for not having met market expectations, after the company announced that it expects to record an operating profit of 9.1 trillion won (6.16 billion euros). in the third quarter, which would be almost four times more than in the same period last year, but a drop of 12.8% compared to the second quarter.
Likewise, the Suwon manufacturer is confident that its sales will reach 79 trillion won (53.46 billion euros) between July and September, a figure that represents an advance of 17.2% in relation to the multinational’s income in the same period. quarter of last year and 6.6% compared to those recorded between April and June.
In a note addressed to “customers, investors and employees,” Jeon Young-hyun, vice president of Samsung Electronics’ semiconductor division, apologized on behalf of the company’s management for the performance not meeting market expectations. .
“Today, we, the management of Samsung Electronics, want to apologize to you,” says the executive, after the failure to meet market expectations has raised “concerns about the fundamental technological competitiveness and the future of the company.”
“Many people talk about Samsung’s crisis. All this responsibility falls on us, who are in charge of the company,” he admits.
In this sense, the manager has expressed Samsung’s willingness to transform the situation facing the company “into an opportunity to take a leap forward” and management will take the initiative to overcome the crisis, restoring the company’s fundamental competitiveness. technology.
In this way, he assured that, instead of short-term solutions, Samsung will seek to guarantee competitiveness through innovation and maximum quality, in addition to reactivating the company’s passion for being pioneers, “instead of a defensive mentality to protect what that we have.”
Likewise, he has pointed out the multinational’s willingness to reexamine its organizational culture and work methods and “immediately solve whatever is necessary.”
“We will rebuild our traditional organizational culture of trust and communication,” said Jeon Young-hyun, underscoring Samsung’s willingness to actively communicate with investors whenever it has the opportunity.
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