SAN FRANCISCO: Tech giant Samsung plans to launch a new in-house global research unit next month, to tackle the semiconductor slump.
The new organization will be launched under the Device Solutions Business division and will be responsible for seeking new investment avenues, as well as analyzing the global semiconductor market, reports SamMobile.
Due to the COVID-19 crisis, the tech giant and other semiconductor companies have experienced a continued decline in demand, supply chain disruptions and excess inventory.
Samsung seems to be hoping that forming a global semiconductor research unit will improve things.
Instead of depending on outside sources, the tech giant plans to conduct its own in-house research to take a closer look at the global semiconductor market.
Earlier, the Samsung Semiconductor official also claimed that things might not improve much next year, according to the report.
Last week, a report mentioned that the company plans to cut its smartphone shipments by 13% next year.
The tech giant was unable to sell as many smartphone units as it expected for many reasons, including the supply chain issue caused by the COVID-19 pandemic.