In its most recent fiscal quarter, Samsung did not have very favorable results, which resulted in workforce reductions and other corrective measures. Samsung apologized for the disappointing profitability and promised to bring innovative and attractive products and technologies to the market.
The Koreans predict that their third-quarter earnings will be lower than expected. “The performance that fell short of market expectations has raised concerns about the company’s technology competitiveness and future,” Samsung said in part of its statement. Many people are talking about the Samsung crisis. As a business leader, we take full responsibility.”
Samsung wants to fix its situation by offering more exciting and innovative products and regain the satisfaction of customers and investors.
Only time will tell if Samsung will focus on new technologies in addition to the chip sector in the smartphone market. Samsung’s apology letter comes a few years after the release of Galaxy flagship phones with trickle-down changes.
On the other hand, Samsung’s foldable phones are lagging behind their Chinese competitors in terms of design and camera; In a market where Huawei has made news with the release of the world’s first three-piece foldable phone.
