The second quarter of 2013 has not gone as smoothly as Samsung had hoped. According to Reuters, the South Korean electronics conglomerate plans to hold a strategic conference on November 6th in response to shares falling 13% since April. Several factors have led to this dip, disappointing sales of the Galaxy S4 chief among them. Reuters mentions that mobile sales make up two-thirds of Samsung’s profits, so investors’ doubts are understandable.
This is the first major strategy conference Samsung has held in years, and the company plans to invite more than 400 investors and analysts in order to discuss future plans. Those plans likely include the Galaxy Gear smartwatch and the Galaxy Note III, which were revealed at Samsung’s “Unpacked” press conference on Wednesday. The event in November is notable for being the first of its kind since Sang-Hoon Lee took over as president of Samsung Electronics.
“It’s been a while since we last communicated our longer-termĀ businessĀ plan, and this year’s event is largely aimed at discussing our latest strategy and vision for 2020,” a Samsung executive said.