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SeongJoon Cho | Bloomberg | Getty Images
Memory chips are visible on a Samsung Electronics memory module on this photograph arranged in Seoul, South Korea, on Thursday, July 26, 2018.
Samsung Electronics expects a difficult year due to global trade tensions, slowing economic growth and declining demand for memory chips from data center companies, said Wednesday the co-managing director of the society.
The world's largest memory chip maker has reiterated its forecast for a weak 2019 year as shareholders gather for its annual general meeting in Seoul, citing a slowing demand for memory chips.
"We expect a lot of difficulties this year, such as slowing growth in major economies and the risk of global trade conflicts," said co-director general Kim Ki-nam at the meeting.
Samsung is looking for new growth in areas such as network equipment manufacturing, while sales of its major components and smartphones are starting to fall.
The company will continue to make bold investments in semiconductor manufacturing in the face of tougher Chinese competition, Kim said.
Shareholders are asked to vote on the appointment of directors.
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