Samsung mobile head vows to restore profits

Samsung vows to restore profit

16 MAR 2015

Samsung’s mobile chief, Shin Jong-kyun, tried to reassure shareholders at its annual meeting Friday by outlining its strategy for turning around the division’s slumping profit.

Shin said it will make a big push with its new flagship Galaxy S6 and S6 Edge smartphones, which it unveiled at an event alongside Mobile World Congress. The Galaxy S6 Edge has a curved display on both sides.

He said that in response to the rapidly expanding budget-phone market, it was adopting high-end features such as metal materials and active-mode organic light-emitting diode (AMOLED) displays, the Korea Herald reported. In fact, Bloomberg noted the company aims to launch more smartphones with metal casings, slim designs and high-definition displays across its range of models.

And Samsung will offer a wider range of connected devices after losing its outright lead in the smartphone market to Apple. Kwon Oh Hyun, who leads the components business, said the company will try to tap new demand in the business-to-business market as well as smart home and health devices.

Samsung announced on Friday it had revenue of KRW206 trillion ($185 billion) and a profit of KRW25 trillion last year.

Author

Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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