Samsung chairman: New products, investments will drive growth in “difficult” 2012

Samsung chairman: New products, investments will drive growth in “difficult” 2012

Samsung chairman Lee Kun-Hee has indicated that the Korean electronics giant will seek to acquire new startups, make key investments and develop new products to reduce a stagnation in its growth, the AFP reports.

In a New Year’s speech, Lee said that existing businesses would face difficulty posting growth in the coming year amid an economic downturn, but a focus on new start-ups and new technologies would provide the best opportunities during the slowdown.

The Samsung chairman said:

“Samsung’s future lies in new businesses, new products and new technologies,”  stressing the need for “increasing investment and jobs and focusing on exports”.

“We should change our corporate culture in ways that are more open, flexible and innovative. We should only think about something new and breaking all existing rules.”

Samsung, the world’s largest technology company in terms of revenue, has enjoyed growth in the smartphone, tablet and memory chips segments, enjoying a fierce rivalry with Apple for consumer attention in a competitive handset and tablet market.

The company is expected to launch a number of new smartphones, tablets and other consumer electronics at January’s CES 2011 expo, we will of course be on the floor to bring you all of the latest developments.

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