Samsung Is in Crisis Mode. That’s a Good Thing
The South Korean firm has endured a brutal year. But it has turned problems into opportunities before.
Samsung’s executive chairman Lee Jae-yong.
Photographer: Jeff Pachoud/AFP/Getty Images
Hopefully your year is going better than Samsung Electronics Co.’s.
South Korea’s largest conglomerate has endured a humbling 2024. It has spent much of that time playing catch-up to rival SK Hynix Inc. in producing high-bandwidth memory chips for AI powerhouse Nvidia Corp. Its other core divisions are facing unprecedented levels of competition, from Taiwan Semiconductor Manufacturing Co.’s booming foundry business to the rise of Chinese phone and display makers. And demand for its conventional chips have sputtered. Samsung shares have plunged 20% this year, and nobody seems to be buying the dip.