Complacency can be fatal for any company but when you’re a global conglomerate with rivals itching to take you down, nothing can be left to chance. Samsung has faced incredible business challenges over the years but it has been able to overcome them through leadership and innovation.
As the world evolves and new technologies gain momentum, Samsung wants to ensure that it remains as competitive as ever before. To that end, the company has drawn up a new game plan worth $206 billion to secure its future.
Samsung is making bold moves for its future
Samsung confirmed today that the Samsung Group will be investing approximately $206 billion in the next three years to enhance its capabilities in the artificial intelligence, biopharmaceutical, semiconductor and robotics industries. The investments are meant to prepare Samsung for a leading role in the post-pandemic world.
These investments will be made through 2023. The company says that this move will enable it to strengthen in global position in competitive industries like the chip market while also providing it with new opportunities for growth in next-generation telecommunications and robotics.
Samsung Electronics didn’t provide a breakdown of the exact amounts that it will be spending on each of the highlighted industries. However, it once again reiterated that mergers and acquisitions are being considered to consolidate technology and gain market leadership.
With more than $114 billion in cash, Samsung is in a very strong position to buy new companies. Its potential targets are said to include automotive semiconductor companies like NXP and Microchip Technologies.
The company’s $206 billion game plan has been revealed over a week after its leader Lee Jae-yong was released from prison on parole. His return to the office was said to be crucial for progress on Samsung’s major plans. With the heir back in action, we might see some progress in its merger activities soon enough.