SEOUL |
SEOUL (Reuters) – South Korean consumer wiring titan Samsung is formulation a vital discussion with investors of a scale not seen given 8 years ago to quarrel a chewing guess that a heyday might have come and gone.
Samsung Electronics, that undershot analysts’ gain estimates in April-to-June in a singular miss, pronounced on Wednesday that it would accommodate with 400 investors and analysts in Seoul on Nov 6 to speak about a longer-term expansion strategy.
Samsung’s prevalence in a high-end smartphone shred has driven a array of record increase in new years and helped it trump arch opposition Apple Inc. But analysts contend a shred might have upheld a rise this year as a marketplace saturates and foe from cheaper phones intensifies.
Shares in Asia’s many profitable record firm, that depends on mobile inclination for two-thirds of a profit, have depressed 13 percent over a past 3 months. That compares with a 3 percent dump in a domestic batch market.
Samsung’s batch has been strike by weaker-than-expected sales of a Galaxy S4 smartphone, researcher downgrades, and financier concerns that a conflict to say a leverage in a high-end mobile shred might serve fist margins.
“It’s been a while given we final communicated a longer-term business plan, and this year’s eventuality is mostly directed during deliberating a latest devise and prophesy for 2020,” a Samsung executive said, disappearing to be identified as sum of a devise have nonetheless to be done public.
In 2009, Samsung pronounced it would aim income of $400 billion by 2020 and turn one of a world’s tip 10 brands by then. The firm, that also creates mechanism memory chips, prosaic screens, televisions and home appliances, warranted 201 trillion won ($183.1 billion) in 2012.
The Nov event, a initial of a kind underneath new Chief Financial Officer Lee Sang-hoon, also comes as Samsung Group seeks new vistas of revenue.
Some new businesses, including a section that creates solar cells and another that produces medical equipment, have nonetheless to produce any discernible formula given they were denounced in 2010.
(Reporting by Miyoung Kim; Editing by Ryan Woo)
Article source: http://www.reuters.com/article/2013/09/04/us-samsung-meeting-idUSBRE9830BM20130904
