Tomasz Wadowski
Samsung has not had an easy time lately. Televisions, once the jewel in the crown of the company, are now dragging down the results, and competition from China is only adding fuel to the fire. The Samsung Electronics' Visual Display division – the one responsible for the entire TV segment – has just declared a state of emergency. And not in a metaphorical sense, but literally: "emergency management mode".
Warning Signal from Korea
On 12 May, it was internally announced that it was time to stop pretending that everything was alright. Samsung announced drastic cuts – fewer delegations, an end to “luxury” hotels and overtime bonuses. Meetings? Only the essential ones. All to save a division that was once the company’s flagship but is now teetering on the edge.
TCL, Hisense, Xiaomi – everyone is going full throttle and not looking back. With cheaper production and increasingly better screens, they are beginning to suffocate Samsung. And as the market is not growing but rather shrinking – inflation, recession, uncertainty – the Koreans are introducing internal discipline. It’s no longer just about cutting costs. It’s an attempt to get the entire division back on its feet before it’s too late.
Stop the FOMO: “Samsung in a Panic, but This Could be the Perfect Moment to Buy – and Specific Models”
In its latest video Stop the FOMO pulls no punches – Samsung is under immense pressure from Chinese competitors like TCL and Hisense, who are flooding the market with increasingly better and cheaper TVs. The decision to introduce an emergency mode is, according to them, a signal that margins are shrinking, and the Koreans feel the breath of competition on their backs. It can be observed that the offensive from Chinese brands has increased. But for buyers, this is... good news. According to Stop the FOMO, if someone is planning to buy a Samsung television, now is the best time, particularly for this year’s OLEDs – specifically the models S90D and S95D in sizes 55", 65" and 77". These models offer the best price-to-performance ratio and picture quality. In other words – you will squeeze the maximum out of these panels of what Samsung has to offer today.
We have also created a compilation of Samsung television models that are truly worth considering when buying a new screen – check out our ranking of the best Samsung televisions!
Even the bosses without leniency
In the Network Division, there has long been no talk of flying business class. Now the same applies to the TV department. Managers? Economy class, the same hotel as regular employees. No privileges. In addition, limited overtime and more oversight. Samsung does not beat about the bush – everyone is meant to feel that the situation is serious.
As one of Samsung's officials puts it: “We are already at the savings stage; we are simply extending these measures to the entire VD team.” In other words – there will be no new ideas for cuts. Everything that previously concerned only management will now also fall on the rest.
Source: businesskorea
