Samsung Electronics is searching for new growth opportunities in the healthcare, medical device, automobile, home electronics, and education markets. It is planning to concentrate its information technology resources in these sectors while proceeding with aggressive efforts for M&A and R&D.
Samsung Electronics Vice Chairman Kwon Oh-hyun participated in the Analyst Day 2013 event held at the Shilla Hotel in Seoul on November 6. “Although our smartphone and tablet PC sales volumes are pretty high now, we do not think that we are completely fulfilling customer demand,” he said there, adding, “Information technology can be blended with education, automobile, healthcare, and many more markets, and we are examining the probabilities.”
With regard to those posing concerns about the future growth potential of Samsung Electronics in the contracting smart phone market, he emphasized, “The IT and electronics industries are still alive and kicking, and my company still has enough room for growth, though it is true that we need to further diversify our profit sources from the smartphone business.”
He continued, “Back in 2009, we set a sales target of US$400 billion by 2020, and we are expecting that these five sectors will be the main tools to reach that goal.” The company’s total sales for this year are estimated at US$211 billion.
The IR session took place for the first time in eight years, joined by more than 400 analysts from both at home and abroad, and 80 or so news agencies. “The vision of US$400 billion implies that Samsung is trying to transform itself into a total company such as Philips or GE,” said Shinhan Investment Corporation analyst So Hyun-chul.