January 31, 2000 in Social Responsibility News

SAMSUNG Launches the Digital Media Business Group

Samsung Electronics has realigned its digital-related businesses the next step in achieving the digital corporate vision announced at its 30th Anniversary. The new Digital Media Business strategically combines the formerly known Multimedia & Home Appliance Business and the Media Service Division. In total 6 main divisions will be formed with focuses in the entertainment, computing and networking businesses. In particular, the monitor (world's first in market share), TV (world's sixth), VCR (world's third), DVD player (world's fifth) and camcorder (world's fourth) product groups will be expanded to global standard levels. The company also plans to focus its capacity in the areas of digital TV and printer so that it becomes the top manufacturer of these two products. In the entertainment area, TV, video and camcorder operations have been joined with those of the digital TV, DVD player, digital still camera, and digital video camera in order to secure competitiveness in the audio/video and digital business value-chain. The computing area will take the form of a general Internet corporation. It will be built up from Samsung's existing PC business to new businesses such as Internet products and portable information appliances. The networking area will focus on linking digital products so that home networks are realized. Products such as set-top boxes and home gateway systems will be the main concentration. The Digital Media Business group will bring together Samsung's digital competencies in an ambitious effort to make Samsung the leader of the digital age. The unit will be headed by President and CTO Daeje Chin, who has been a key figure responsible for the company's semiconductor success. He will now play a crucial role in accelerating the growth of this new business unit, which is based on semiconductor and leading edge technology. In addition, Samsung realizes that it cannot be involved in every digital area with its current business capacity. In order to strengthen this weakness, the company will create strategic alliances with venture enterprises in order to attain digital technology and contents it needs. Samsung has earmarked a venture investment fund of 150 billion won that will be used in a period of 3 years to fund projects developed with 10 to 15 venture companies. After completing the organizational design of the new business group, the company launched the Digital Media Business group in a ceremony attended by over 1,000 people at the company's Suwon complex gymnasium on January 29. At the ceremony, President Daeje Chin stated, "The Digital Media Business was established in order to set forth Samsung's vision of becoming a leading company in the digital convergence revolution. It symbolizes Samsung's strategic move to change to secure competitiveness in new business areas of the digital age in the 21st Century." With the foundation formed by a business model that is ideal for the digital age, Samsung has begun its journey to become a top-class digital company that offers the best quality products and services to customers as well as a vision to employees.


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