Samsung to hold its 41st Annual General Meeting

SEOUL, Korea (AVING) — <Visual News> Samsung Electronics confirmed its 2009 financials, reported on key business sector developments, and approved new board-level initiatives at the company’s 41st Annual General Meeting, held today at world headquarters in Seocho-dong Seoul Korea.

At the meeting, attended by shareholders and institutional investors, Samsung confirmed the strength of its recent fiscal performance. The company reported consolidated full-year financial statements for 2009 as operating profit of 10.9 trillion Korean won on sales of 136 trillion won. For the first time, Samsung achieved the double benchmark of consolidated sales of more than 100 billion won and operating profit of more than 10 trillion won.

In addition, the company reported continuing growth in brand value, illustrated by Samsung now ranking 19th in the Best Global Brands Index, with an estimated brand value of US$17.5 billion, according to Interbrand, the international brand consultancy.

The agenda for the meeting also covered the appointment of independent directors and members of the audit committee, and approval of the remuneration ceiling for the board of directors.

Highlights of the meeting’s business division reports and presentation of market leadership strategies are:

Semiconductor Business: In 2009, Samsung began mass production of the world’s first 40-nanometer DRAM chip and 30-nanometer NAND flash memory, increasing the company’s technological and competitive edge as the world’s largest memory chip manufacturer.

LCD Business: Samsung’s advantage in large-screen TV panels expanded in 2009 through pioneering high-end features such as LED backlights and 240Hz frequency technology, maintaining market leadership through high product quality and greater cost competitiveness.

Visual Display Business: In 2009, the company created a new product category through its introduction of LED TVs, strengthening Samsung’s standing in the premium TV market, and enhancing the company’s position as the world’s largest TV maker for four consecutive years.

Mobile Phones: Samsung gained market share in 2009 in the mobile phone market, launching new high-end touch screen mobiles and smart phones while implementing aggressive promotional campaigns in emerging markets.

Samsung executives outlined the company’s strategies for double-digit sales growth and increased profit in 2010, with the long-term objective of building the foundation for a century of world-class performance. Additionally, the company said it would increase corporate investment year-on-year in 2010, with new capital expenditures allocated flexibly based on changes in the external operating environment as well as business performance.

The company identified three main strategies for long-term success: Enhancing competitiveness through active and aggressive business strategies; developing new technologies as a growth engine for sustainable development; and expediting improvement in the speed and efficiency of the company’s major business units.