Samsung’s transition into the age of AI has not been smooth—and company management appears painfully aware of this. When the Korean appliance and electronics giant announced weaker than expected guidance on Tuesday for Q3 earnings, vice chairman Young Hyun Jun addressed the results in a forthright letter to customers, investors, and employees.
“Today, the leadership team at Samsung Electronics wishes to apologize for not meeting your expectations with our performance,” wrote Jun, the head of the company’s chip division. “We have caused concerns about our technical competitiveness, with some talking about the crisis facing Samsung. As leaders of the business, we take full responsibility for this.”
