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SAMSUNG ELECTRONICS Co., Ltd. Interim Business Report for the Quarter Ended March 31, 2017

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SAMSUNG ELECTRONICS Co., Ltd. Interim Business Report for the Quarter Ended March 31, 2017 SAMSUNG ELECTRONICS Co., Ltd. Interim Business Report For the quarter ended March 31, 2017 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 / 211 WorldReginfo - 40bbb3d2-6956-4df2-badf-f7e25fbf1508 Table of Contents Certification ......................................................................................................................................................................... 3 I. Corporate Overview ........................................................................................................................................................ 4 II. Businesses Overview .................................................................................................................................................. 28 III. Financial Affairs ........................................................................................................................................................... 68 IV. Auditor’s Report ........................................................................................................................................................ 148 V. Management Discussion and Analysis .................................................................................................................... 150 VI. Corporate Governance ............................................................................................................................................. 151 VII. Information on Shareholders .................................................................................................................................. 160 VIII. Executives and Employees .................................................................................................................................... 166 IX. Affiliates and Subsidiaries ....................................................................................................................................... 170 X. Related Party Transactions ....................................................................................................................................... 200 XI. Other Information ...................................................................................................................................................... 204 Samsung Electronics Interim Business Report 2 / 211 WorldReginfo - 40bbb3d2-6956-4df2-badf-f7e25fbf1508 Certification Letter of Certification We, Oh-Hyun Kwon and Sang-Hoon Lee, as CEO and executive of the company in charge of reporting, certify that we have reviewed the interim business report of Samsung Electronics Co., Ltd. for the quarter ended March 31, 2017. Based on our knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary that would be misleading with respect to the period covered by this report. Based on our knowledge, the financial statements, and other financial information included in the report, fairly present in all materials respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report. We confirm that Samsung Electronics operates an Internal Accounting Management System, responsible for establishing and maintaining disclosure controls and procedures and internal controls over financial reporting, as defined in Article 2.2 and 2.3 of the External Audit Act. We have disclosed our most recent evaluation of internal controls over financial reporting to the Company’s auditors and to the audit committee of the Company’s board of directors. Date: 2017. 5. 15 Samsung Electronics Interim Business Report 3 / 211 WorldReginfo - 40bbb3d2-6956-4df2-badf-f7e25fbf1508 I. Corporate Overview 1. Overview A. Legal, Commercial Name: - Samsung Electronics Co., Ltd. B. Date of Establishment: - Samsung Electronics Co., Ltd. (“SEC”) 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 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, Republic of Korea - Phone Number: 82-31-200-1114 - Website: http:// www.samsung.com/sec D. The Company does not fall under the category of small and medium enterprise under Article 2 of the Framework Act on Small and Medium Enterprises. E. Core Businesses - The Company (defined below) separately oversees three independent self-determining divisions (each a “Division”), CE (Consumer Electronics), IM (Information Technology & Mobile Communications), and DS (Device Solutions). Products in each Division are presented below: Division Products CE TV, Monitor, Refrigerator, Washing Machine, Air Conditioner, Medical Devices, etc. IM HHP, Network System, Computer, etc. DS DRAM, NAND Flash, Mobile AP, LCD panel, OLED panel, etc. The Company is a global electronics company comprised of the headquarters in Korea and 279 subsidiaries (SEC and its subsidiaries collectively, “Samsung Electronics” or the “Company”) across the world including nine (9) regional headquarters for the CE and IM Divisions and five (5) regional headquarters for the DS Division. [CE Division] The CE Division is leading the global digital era by continuously offering new products with innovative technology, unique design, and enhanced value propositions. TV is the core product of CE. The Company has maintained its market leadership position for the past eleven (11) consecutive years in 2016 by leveraging competitive advantages in hardware such as LCD/LED TVs as well as software driven product features within our Smart TV product portfolio. Samsung Electronics Interim Business Report 4 / 211 WorldReginfo - 40bbb3d2-6956-4df2-badf-f7e25fbf1508 [IM Division] The IM Division is at the forefront of mobile lifestyle innovation with consumer-friendly products such as the premium ‘GALAXY’ series, while driving the paradigm shift in the market beyond mobile convergence to focus on software. The IM Division is focused on meeting market demand by enhancing mobile product differentiation through seamless integration of key features from various product categories. The IM Division expects increased convergence of mobile phones, digital media devices and personal computers, cameras and other devices in smartphones and tablets, with both serving as replacements for certain devices. As a result, the IM Division has made, and will continue to make, significant investments in research and development of new technologies, products and services. In addition to handheld phone (“HHP”) products including smartphones, the IM Division is also leading technological development and standardization in the global networks system market including Long Term Evolution (“LTE”). [DS Division] The DS Division is comprised of the semiconductor sub-division and the display panel business. The semiconductor sub-division (“Semiconductor Sub-Division”) is further divided into the memory business and the system LSI business. The Company’s memory business unit (“Memory” or “Memory Business Unit”) manufactures and sells DRAM and NAND products. The Company’s system LSI business unit (“System LSI”) manufactures mobile application processors (“Mobile APs” or “APs”) and camera sensor chips. The display business (“DP Business Unit”) manufactures and sells display panels (“DP”). The Company is constantly working to increase its influence on end-product manufacturers by creating new demand through the improvement of product performance of AP products, as well as through the remarkable enhancement of product density for memories such as DRAMs. The Memory Business Unit produces differentiated products and has maintained the top position in the global memory market by continuously applying the latest advanced process technology ahead of the competition with each technological iteration. The system LSI business is not complacent on the semiconductor market for mobile devices and expanding to the semiconductors for automobile. The system LSI business will continue to stay at the forefront of the market by offering differentiated products such as APs and CISs and strengthening competitiveness using the latest advanced process technology. The Company’s TFT-LCD business has been maintaining its position as a leader in the global flat panel display market by developing evermore higher resolution panels that are more energy efficient and by producing these panels more cost efficiently with a higher yield rate. OLED is increasingly and rapidly replacing
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