Lee Jae-yong Pitches Galaxy Phones to Goldman Sachs
Samsung Electronics vice chairman Lee Jae-yong personally promoted Galaxy smartphones to Goldman Sachs, a U.S. investment bank, it was learned belatedly.
Lee's personal marketing efforts were disclosed during his trial related to the merger between Samsung C&T and Cheil Industries, which was held at the Seoul Central District Court in Seocho-gu, Seoul on Nov. 25.
At the trial, the court opened Lee’s e-mails with senior Goldman Sachs executives, which were exchange on July 2015.
“Why can’t Goldman Sachs employees use Samsung smartphones? Is it due to security issues?” Lee said in an e-mail. “Okay. I will visit Goldman Sachs with our technical staff again to address the issues.”
Large investment banks such as Goldman Sachs use mobile phones authorized by their technical staffs due to security concerns. Goldman Sachs employees have only used iPhones and BlackBerry phones certified by its Technical Department.
Lee reportedly started a sales pitch for Galaxy smartphones in person after a meeting with the management of Goldman Sachs. Lee visited Goldman Sachs’ New York headquarters with Samsung Electronics engineers. The engineers made a presentation on the advantages and security features of Samsung smartphones.
In the end, Goldman Sachs' technology department certified Samsung Electronics smartphones. Goldman Sachs employees are now using Galaxy phones for business purposes instead of iPhones and BlackBerry phones.
“In the past, I used the Blackberry for business and the Galaxy for personal use,” said Jung Hyun-jin, head of Goldman Sachs Korea who attended the trial as a witness. “Since Samsung smartphones were certified, I have only used the Galaxy smartphone.”