Home   >   Business   >   Samsung Electronics sees high economic uncertainty, new opportunity in AI

Samsung Electronics sees high economic uncertainty, new opportunity in AI

March 20, 2024

Samsung Electronics Co., the world’s largest maker of memory chips, said Wednesday that macroeconomic uncertainties are expected to be high this year but vowed to embrace a new opportunity in the rise of artificial intelligence (AI).

“Although uncertainties in the macroeconomic environment are expected to be high this year, new opportunities will also be increased through next-generation technological innovations, such as the full-scale AI era,” Samsung Electronics Vice Chairman and CEO Han Jong-hee told an annual meeting of shareholders.

Han told shareholders the electronics giant would continue to make efforts to expand technological innovation in AI and new businesses for sustainable growth.

Han Jong-hee, vice chairman and co-CEO at Samsung Electronics Co., speaks at the company's annual meeting of shareholders in Suwon, 30 kilometers south of Seoul, on March 20, 2024. (Pool photo) (Yonhap)
Han Jong-hee, vice chairman and co-CEO at Samsung Electronics Co., speaks at the company’s annual meeting of shareholders in Suwon, 30 kilometers south of Seoul, on March 20, 2024. (Pool photo) (Yonhap)

Samsung Electronics plans to pay 9.8 trillion won (US$7.3 billion) worth of dividends for 2023, Han said.

Last year, Samsung Electronics posted a net profit of 15.48 trillion won, down 72.2 percent from a year earlier, hit by sluggish demand for semiconductor. Sales fell 14.3 percent on-year to 258.93 trillion won last year.