Samsung Enters ‘Crisis’ Stage As Euro Weakens

Posted on Jul 5 2012 - 6:48am by Editorial Staff

According to Korea Times, Samsung is experiencing a windy time with the fallout of the euro, deepening with the eurozone economic crisis.  This is the first time ever happened in previous four years that the South Korean giant found itself in “crisis” stage. The factor that mainly affects the company to go into emergency mode was the “highly-fluctuating currency,” that leads to company announced such state.

Rhee In-yong, top communications officer said, “The euro is rapidly losing its currency value. Samsung Electronics is currently being run by scenario-based management as the eurozone is one of its biggest markets.” He added, “But the current situation is looking somewhat better than 2008 because Samsung Electronics is seeing an increase of quarterly profit.”

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