韩国最狂财阀，抱紧雷军大腿

Core Viewpoint - Samsung Electronics is facing a critical moment as it struggles to adapt to the rapidly evolving AI market, highlighted by the recent death of co-CEO Han Jong-hee and the company's declining stock performance compared to competitors like SK Hynix and TSMC [2][3][4]. Financial Performance - In 2024, Samsung Electronics reported revenues of 300.9 trillion KRW, a 16% increase year-on-year, with operating profit soaring by 395% to 32.7 trillion KRW and net profit reaching 33.6 trillion KRW, up 131% [12][13]. - Despite the impressive overall financial growth, the fourth quarter of 2024 saw a 29.2% decline in operating profit to 6.5 trillion KRW, falling short of analyst expectations [14][16]. Market Share and Competition - Samsung's market share in various sectors has declined, with its global TV market share dropping from 30.1% in 2023 to 28.3% in 2024, and smartphone market share decreasing from 19.7% to 18.4% [14][16]. - The semiconductor division (DS) also faced challenges, with fourth-quarter operating profit at 2.9 trillion KRW, indicating underperformance compared to market expectations [16][20]. Strategic Moves - In response to the challenges, Samsung has initiated a significant restructuring of its DS division, including the dismissal of over 100 executives and the divestment of its LED business, which generated 20 trillion KRW in annual sales [20][28]. - Samsung's leadership is focusing on regaining its competitive edge in the semiconductor market, particularly in high-bandwidth memory (HBM) chips, which are crucial for AI applications [24][25]. Competitive Landscape - SK Hynix has emerged as a strong competitor in the HBM market, significantly outpacing Samsung in terms of production and sales, with SK Hynix's fourth-quarter operating profit reaching 8.1 trillion KRW, compared to Samsung's 6.5 trillion KRW [26][28]. - The competition in the semiconductor industry is intensifying, with both Samsung and SK Hynix vying for dominance in the AI-driven market [29].