Samsung apologized for making $6.8 billion last quarter

To our customers, investors, and employees who always love Samsung Electronics,

Today, we, the management of Samsung Electronics, would like to apologize to you first.

A performance that fell short of market expectations raised concerns about the company’s underlying technology competitiveness and future. Many people are talking about the Samsung crisis. All this responsibility is on us who lead the business.

Dear customers, investors, and employees,

Samsung has a history of challenge, innovation, and triumph that always turns problems into opportunities. We will definitely turn the crisis we are currently facing into an opportunity to move forward. Our management will be at the forefront of overcoming this problem. Above all, we will restore fundamental technological competitiveness. Technology and quality are our lifeblood. The pride of Samsung Electronics that we will never compromise on. Rather than temporary solutions, we will ensure fundamental competitiveness.

In addition, I believe that only the new technology that is not in the world and the perfect quality competition are the only ways for Samsung Electronics to make a comeback.

Second, we will fully prepare for the future. We will renew our unique passion to pioneer without fearing the future and stick to our goals until the end and achieve them. We will also equip ourselves with a challenging spirit to run towards a higher goal, with a protective mindset to protect what we have.

Third, we will reassess our organizational culture and ways of working and quickly fix what needs to be fixed. We will rebuild our traditional organizational culture of trust and communication. If we find a problem in the field, we will expose it and have a serious discussion to improve it. In particular, we will fully communicate with investors whenever we have the opportunity.

Dear customers, investors and employees,

I am sure that if we challenge ourselves, we can definitely turn a crisis into a new opportunity. I am asking for your support and encouragement so that Samsung Electronics can once again show its strength.

Thank you.

Samsung Electronics DS Division Vice Chairman Jun Young-hyun