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2020 Interim Business Report for the Quarter Ended March 31, 2020

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2020 Interim Business Report for the Quarter Ended March 31, 2020 SAMSUNG ELECTRONICS Co., Ltd. 2020 Interim Business Report For the quarter ended March 31, 2020 Certain statements in the document, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements.” Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our financial reports available on our website. See, also, 『Note on Forward-Looking Statements』 in preamble of 『II. Business Overview』. Samsung Electronics Interim Business Report 1 / 199 Table of Contents Certification ................................................................................................................................................................................ 3 I. Corporate Overview ............................................................................................................................................................... 4 II. Businesses Overview ......................................................................................................................................................... 25 III. Financial Affairs .................................................................................................................................................................. 61 IV. Management Discussion and Analysis .......................................................................................................................... 128 V. Auditor’s Report ................................................................................................................................................................ 129 VI. Corporate Governance .................................................................................................................................................... 134 VII. Information on Shareholders ......................................................................................................................................... 149 VIII. Executives and Employees ........................................................................................................................................... 155 IX. Affiliates and Subsidiaries .............................................................................................................................................. 160 X. Related Party Transactions .............................................................................................................................................. 189 XI. Other Information ............................................................................................................................................................. 192 Samsung Electronics Interim Business Report 2 / 199 Certification Letter of Certification We, Ki-nam Kim and Yoon-ho Choi, as a CEO and the executive in charge of reporting, respectively, certify that we have thoroughly reviewed the interim business report of Samsung Electronics Co., Ltd. Based on our knowledge, this report does not contain any untrue statements of material facts or omit any material facts; and it does not contain any statements that are intentionally misleading for the users of the information in the report. We confirm that Samsung Electronics operates the Internal Controls over Financial Reporting, as defined in Article 8 of the Act on External Audit of Stock Companies. Date: May 15, 2020 Samsung Electronics Interim Business Report 3 / 199 I. Corporate Overview 1. Overview A. Legal, commercial name: - Samsung Electronics Co., Ltd. B. Date of establishment: - Samsung Electronics Co., Ltd. (“SEC” or “the Company”) was established as Samsung Electronics Industry Co., Ltd. on January 13, 1969, and held an initial public offering on June 11, 1975. - SEC changed its name from Samsung Electronics Industry Co., Ltd. to Samsung Electronics Co., Ltd. following a resolution passed at the Annual General Meeting (AGM) of shareholders on February 28, 1984. C. Address, phone number, and English language website of the corporate headquarter - Address: 129, Samsung-ro, Yeongtong-gu, Suwon, Gyeonggi-do, Korea - Phone Number: 82-31-200-1114 - Website: https:// www.samsung.com/sec D. The Company is not subject to Article 2 of the Framework Act on Small and Medium Enterprises. E. Core businesses - The Company (defined below) consists of business divisions that operate independently: CE (Consumer Electronics); IM (Information Technology & Mobile Communications); DS (Device Solutions); and Harman (Harman International Industries, Inc. and its subsidiaries), which produces automotive electronics components. Products in each Division are presented below: Division Products CE TVs, monitors, refrigerators, washing machines, air conditioners, etc. IM HHPs, network systems, computers, etc. DS DRAM, NAND flash, mobile APs, OLED smartphone panels, LCD TV panels, etc. Harman Digital cockpits, telematics, speakers, etc. SEC is a global electronics firm comprised of the headquarters in Korea and 244 subsidiaries (collectively, “Samsung Electronics” or the “Company”) across the world, including 9 regional headquarters for the CE and IM Divisions, 5 regional headquarters for the DS Division, and Harman’s subsidiaries. [CE Division] The CE Division is leading the global digital era by continuously offering new products featuring innovative technology, unique designs, and enhanced value propositions. TV is the core product of CE. The Company has maintained its position as the market leader for 14 consecutive years by leveraging competitive advantages in hardware such as LCD/LED TVs as well as software driven product features within our Smart TV product portfolio. We will continue to expand our market leadership based on our competitive edge in the premium segment through our 8K QLED and ultra-large products to name a few. Samsung Electronics Interim Business Report 4 / 199 [IM Division] The IM Division operates the Mobile Communication Business, which produces and sells smart mobile devices such as smartphones, tablets, wearables, etc. For smartphones, a key product of the business, we have developed a lineup ranging from low-end right through to premium models, and have achieved growth in both advanced and emerging markets with the Galaxy series. We will lead growth of the smartphone market and deliver exceptional user experiences by: 1) offering innovative hardware features such as new form factors (based on flexible OLED technology), high-definition cameras, biometric sensors, and battery charger technologies; 2) improving software capabilities of mobile payment service Samsung Pay and AI platform Bixby; and 3) investing in future growth drivers such as Cloud, IoT, healthcare, AR, and VR. At the same time, we will lead the global 5G market based on our end-to-end solutions, which encompass handsets, chipsets, as well as our commercialization experience in initial 5G markets. [DS Division] The Memory Business, System LSI Business, Foundry Business, and Display Panel (“DP”) Business make up the DS Division. The Memory Business manufactures and sells DRAM and NAND products; the System LSI Business designs and sells mobile application processors (“mobile APs” or “APs”) and camera sensor chips; the Foundry Business is in charge of consignment production of semiconductors; and the DP Business manufactures and sells display panels. The Company constantly works to increase its influence on end-product manufacturers and create new demand through technological breakthroughs and the development of high quality components as it has done with APs—which serve as the brains of mobile products—and with memory components like DRAM via enhanced capacity and density. The Memory Business has maintained its position at the top of the global memory market by sustaining cost competitiveness and applying the latest advanced process technology in each technological iteration. The System LSI Business has not been complacent, expanding its focus from mobile to include automotive chips, and will stay at the forefront of the market by offering differentiated products such as APs and CISs and strengthening competitiveness via its advanced manufacturing process technology. In 2019, the Foundry Business introduced the world’s first 7-nano product manufactured with EUV technology. Leveraging its capabilities, the business will gain market leadership by developing next-generation technologies such as 4- and 5-nano EUV processes and the 3-nano GAA (gate all around) process in 2020. We are expanding the business by diversifying our product portfolio, which includes CISs, DDIs, and PMICs. In the Display division, the Company and its mobile panel business’s differentiated technology is a main factor behind the increased adoption of OLED panels, while its release of products in new applications—such as foldable devices, laptops, and automotives—has expanded the overall market. Meanwhile, the large panel business is focusing on premium products such as high-definition, ultra-large, QD TVs and is enhancing its competitiveness through continuous improvements in technology and productivity. [Harman Division]
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