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Samsung’s next reinvention challenge: itself

07
Aug
2014

By Se Young Lee and Sohee Kim SEOUL (Reuters) – As its smartphone sales stutter and a generational leadership succession looms, Samsung Electronics Co Ltd is under pressure to reinvent itself – to be more innovative, but not lose the rigor and focus that made it a global powerhouse. The flagship of South Koreas dominant conglomerate, or chaebol, is also trying to address shifting cultural values at home by curbing some of the excesses hardwired into corporate Korea. Its 1-1-9 for evening company outings now: one type of alcohol, in one place and only until 9 p.m, said a Samsung employee in his eighth year at the firm. Samsung last month posted an unexpectedly sharp drop in second-quarter earnings, squeezed by falling market share in smartphones, and with no obvious driver in sight to reverse the decline.

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