Samsung Electronics plans to prioritize on-device AI to fuel growth in its consumer electronics division, anticipating market expansion exceeding the global average. The company projects 4-5% growth for its mobile devices business this year, while TV and home appliance units are expected to accelerate.
Samsung Electronics plans to ramp up its on-device AI, as it bets on the consumer electronics unit to exceed overall global market growth this year. The world's largest smartphone and TV maker expects its mobile devices business to grow by 4-5% this year, while growth in TV and home appliances unit to accelerate. Samsung Electronics plans to ramp up its on-device AI business, with the aim of exceeding global market growth in the consumer electronics segment this year.
The global consumer electronics market for smartphone, TV and home appliances will grow roughly 3% in 2025, Jong-Hee Han, chief executive officer of Samsung Electronics, told CNBC's Chery Kang.Samsung, the world's largest smartphone and TV maker, expects its mobile devices business to grow by 4%-5% this year, while growth in TV and home appliances unit is also likely to accelerate, said Han, also the head of device eExperience (DX) division of Samsung Electronics.It has also been bolstering its AI functions on its premium flagship smartphone models, such as the Galaxy S24 series, which have emerged as serious competitors. Competition from Chinese companies is 'helpful' for Samsung and the consumers, Han said during the interview, noting that the company aims to differentiate its products with more security and convenience, rather than lowering prices.The South Korean tech giant, once the dominant force in the memory chip sector, has fallen behind SK Hynix in the race to supply high bandwidth memory chips, or HBM chips, that are a key component for AI leader Nvidia. According to Reuters estimates, Samsung's operating profit for the second quarter of 2023 surged to 12.4 trillion won, a notable uptick from 2.8 trillion won it reported a year earlier, but down from 9.18 trillion won in the prior quarter. Last year, shares of the South Korean giant plunged 32%, according to LSEG data, lagging the broader benchmark Kospi's 9.6% loss
SAMSUNG AI CONSUMER ELECTRONICS SMARTPHONE MOBILE DEVICES
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