Samsung to focus on displays, better software in 2016

Smartphone market leader Samsung will focus on displays and software to enhance its business this year. In its fourth quarter results, the company said that it will develop new panel applications like “transparent, mirror, head-mounted and automotive displays, while strengthening its flexible display technologies.” In addition, Samsung will also strengthen hardware, services and wearable products, while planning to lead the Smart Home market in the Internet of Things segment. Samsung wrote:

For the memory business, the company plans to improve competitiveness of its products and solidify its technological leadership by expanding its leading-edge process. As for the System LSI business, the company plans to diversify its foundry customers and enhance the SoC (System-on-Chip) line-up.
For the Display Panel segment, the company plans to secure mid- to long-term growth momentum by leveraging its OLED technology for the development of new panel applications such as transparent, mirror, head-mounted and automotive displays, while strengthening its flexible display technologies.
For the mobile business, the company will focus on strengthening the competitiveness of its software, along with hardware, services and wearable products. For the consumer electronics business, the company plans to lead the Smart Home era with diverse IoT-enabled products.

Samsung’s report states that the company earned a profit of 6.14 trillion Korean Won in the fourth quarter, against sales of 53.3 trillion Won. Although this is an increase in the company’s year-on-year numbers, Samsung’s net profits dropped by almost 40 percent year-on-year, to 3.22 trillion Won. Samsung stated that it will be coming up with an “enhanced product mix” in 2016. This will include new phones in the Galaxy A series and improvements to Samsung’s software.