Samsung Electronics is aggressively leveraging artificial intelligence (AI) to strengthen its foothold in the consumer electronics market. The company’s leadership has crafted a strategy involving the integration of AI across a wide range of devices.
Samsung's AI Strategy
CEO Jong-Hee Han stated that they expect a 4%-5% increase in their mobile business this year, outpacing the broader market. TVs and home appliances are not being left behind either. The company plans to incorporate AI into everything from refrigerators to robot vacuums. Their new Galaxy S24 smartphone can translate foreign language calls in real-time.
Competition with Chinese Brands
Chinese brands like Huawei and Xiaomi continue to bring high-end smartphones with competitive features to the market. While the competition intensifies, Samsung does not plan to cut prices. Instead, the company focuses on enhancing the security and convenience of its devices.
Financial Standing and Projections
Samsung's financial results show signs of recovery. Operating profit for Q4 2024 is estimated at 8.2 trillion won. However, this remains below the previous quarter's result. Samsung also announced plans for a 10-trillion won stock buyback.
Samsung's current strategy aims to overcome market challenges through innovation and AI technology. The company seeks not only to fortify its position but also to take a leading role in the electronics industry.
