SEOUL, KOREA – Newly Integrated Samsung Display was launched on July 1 for an upcoming market shift. Here is its justification. First, In about 3 years, each LCD and OLED business will be able to play a role as a cash cow and a growth engine. Second, by the time the display market completes its immigration to LCD and OLED, Samsung Display will lead the whole display industry. Last, the Display division is expected to become a clear-cut within its mother-ship Samsung Electronics: being able to build an independent customer base.
The display maker, with dazzling technologies, wealth, and mass production know-hows, is closer than ever to become a "Strong Few" past the current global financial crisis. Japan pioneered the industry but has retreated while suffering financially, and its OLED technology is stuck in the mud. Sharp is stumbling due to its managerial transition. Taiwan and China are still far behind Japan. What is ahead for Samsung Display now
On July 31, Samsung Electronics’ Vice Chairman and CEO Oh-hyun Kwon held the organizational meeting for the “1st Samsung Display Partnership Association”. Attendees were Samsung’s 53 subsidiaries that currently supply core electronic parts and equipment to its LCD and OLED divisions. Samsung Display’s chief stressed “Mutual Growth” in order to strengthen its affiliates’ business capacity: raising the bar to meet global demand.
In June, Mr. Kwon was appointed as the new CEO of Samsung Electronics after successfully leading the firm’s component business. Though the abrupt management shift stirred up the business community, no major change has been made in its operation. Mr. Kwon made his first strategic move at the event.
His message is sensible and simple: between Samsung Display and its partners, technologies must be synchronized without any missing link to level up in the worldwide market.
In a bid to improve Samsung Display’s competitiveness under his “New Start”, few partner support programs are scheduled to be extended and redefined. Subsequently, subcontractors will become main beneficiaries. “Growing together with our partners will be one of Samsung’s core business values, and I will continue to steer the company based on the idea,” said newly appointed CEO.
First in Technology, Best in Solution, Work Smart, and Convergence & Communication
The new CEO, Mr. Kwon already set out four goals. According to him, in pursuit of becoming a new leader in the display industry, Samsung Display needs to start its second beginning based on creativity, a challenging spirit, its years of experiences and technologies.
“First in Technology“ aims at achieving technological gap by outpacing competitors, while “Best in Solution” boosts customers’ trust in Samsung’s values and products. Through “Work Smart”, a creative and productive culture is born. “Convergence & Communication” will remind people of what growing together really means.
