Hundreds of Samsung executives will hold a company-wide meeting to discuss the future of smartphones, home appliances and chip manufacturing

CTOnews.com, Dec. 10 (Xinhua)-- Samsung executives plan to hold several company-wide global strategy meetings before the end of the year to discuss smartphones and home appliances, as well as the future of the chip manufacturing division amid continued macroeconomic uncertainty.

Samsung's device experience (DX) division will meet next Thursday and Friday. The unit also went into emergency mode earlier this week after Samsung Electronics decided to cut business spending and travel overseas.

Meanwhile, Samsung's chip division will meet after December 22. Due to the decline in the spending power of users, Samsung semiconductor business declined by ~ 50% year-on-year in the third quarter of 2022.

CTOnews.com learned that these meetings will be attended by hundreds of senior managers, some of which will be held online. They will discuss strategies to overcome the growing challenges posed by the sluggish global economy, geopolitical tensions and low consumer demand.

Meanwhile, Samsung expects chip production at its plant in Xi'an, China, to exceed 100 billion yuan by the end of 2022.