In a rare move, Samsung’s Vice Chairman Jun Young-hyun issued a heartfelt apology to customers, investors, and employees after the company’s disappointing third-quarter profit forecast fell short of expectations. The leading memory chip manufacturer projected an operating profit of approximately 9.10 trillion won, significantly lower than the anticipated 11.456 trillion Korean won.
Young-hyun attributed the decline to “one-time costs and negative impacts” including inventory adjustments from mobile clients and an increased supply of older products from Chinese memory firms. He acknowledged that the company’s performance has sparked concerns about its technological competitiveness and future prospects.
In his apology, Young-hyun emphasized that Samsung has a history of turning crises into opportunities through innovation and perseverance. He pledged that the company will restore its fundamental technological competitiveness, secure long-term solutions, and prepare for the future with a renewed sense of passion and challenge.
Young-hyun also committed to revamping the company’s organizational culture and working methods, promoting transparency and open communication, and actively engaging with investors. He expressed confidence that with collective effort, Samsung can transform the current crisis into a new opportunity for growth and success.
The apology marks a significant shift in tone for the company, which has faced intense scrutiny in recent months. As Samsung navigates this challenging period, Young-hyun’s words serve as a rallying cry for the company to reclaim its position as a leader in the tech industry.
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