Samsung Corporation Warns Employees To Prepare For Bad Economy

Although Samsung sold over 300 million mobile phones in 2011 and it’s been forecast that they will sell over 150 million smartphones this year, Samsung Chairman Lee Kun Hee has warned employees at their S. Korean headquarters to brace themselves for a weak economy.

While the worldwide economy is in an economic downturn South Korea’s two largest companies are preparing employees for the worst.  Hyundai Motor Co has also warned their employees of the same thing today.

More after the break
Despite the rocky economy in 2011, and other units within Samsung corporation seeing a downturn, like their microchip and display division, Samsung’s mobile unit was there to help hold the company up quarter after quarter with their blockbuster phone sales.

“The global economy’s low-growth trend will continue and uncertainty surrounding the business environment won’t be easily removed,” Samsung Chairman Lee Kun Hee said, according to a summary of a speech to employees today that was distributed by the company. “We should make our corporate culture more open, flexible and innovative.”

While the source story here, speaks about Samsung as a whole there was nothing mentioned about Samsung Telecommunications/Samsung Mobile specifically.

There are no big Samsung rumors for CES next week. Samsung consumer electronics is holding a press conference next week but the focus will be other products. We are expecting the next installment of Samsung unpacked to occur at Mobile World Congress in Barcelona at the end of February.

source: Businessweek via BGR