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SAMSUNG ELECTRONICS Co., Ltd. 2017 Business Report for the Year Ended December 31, 2017

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SAMSUNG ELECTRONICS Co., Ltd. 2017 Business Report for the Year Ended December 31, 2017 SAMSUNG ELECTRONICS Co., Ltd. 2017 Business Report For the year ended December 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 2017 Business Report 1 / 271 Table of Contents Certification ................................................................................................................................................................................ 3 I. Corporate Overview ............................................................................................................................................................... 4 II. Businesses Overview ......................................................................................................................................................... 29 III. Financial Affairs ................................................................................................................................................................. 77 IV. Auditor’s Report ............................................................................................................................................................... 189 V. Management Discussion and Analysis ........................................................................................................................... 191 VI. Corporate Governance .................................................................................................................................................... 202 VII. Information on Shareholders ......................................................................................................................................... 214 VIII. Executives and Employees ........................................................................................................................................... 220 IX. Affiliates and Subsidiaries .............................................................................................................................................. 227 X. Related Party Transactions .............................................................................................................................................. 258 XI. Other Information ............................................................................................................................................................. 263 Samsung Electronics 2017 Business Report 2 / 271 Certification Letter of Certification We, Ki-Nam Kim and Hee-Chan Roh, as CEO and executive of the company in charge of reporting, certify that we have reviewed the annual business report of Samsung Electronics Co., Ltd. for the year ended December 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: 2018. 4. 2 Samsung Electronics 2017 Business Report 3 / 271 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, Korea - Phone Number: 82-31-200-1114 - Website: http:// 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) comprises business divisions that operates independently (each a “Division”): 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, medical devices, etc. IM HHPs, network systems, computers, etc. DS DRAM, NAND flash, mobile APs, TFT-LCD panels, OLED panels, etc. Harman Head units, infotainment systems, telematics, speakers, etc. SEC is a global electronics firm comprised of the headquarters in Korea and 270 subsidiaries (collectively, “Samsung Electronics” or the “Company”) across the world including nine (9) regional headquarters for the CE and IM Divisions, five (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 with innovative technology, unique design, and enhanced value propositions. TV is the core product of CE. The Company has maintained its position as the market leader for twelve (12) consecutive years by leveraging competitive advantages in hardware such as LCD/LED TVs as well as software driven product Samsung Electronics 2017 Business Report 4 / 271 features within our Smart TV product portfolio. We plan to solidify our market leadership by continue developing new technologies and making innovations. [IM Division] The IM Division is at the forefront of the mobile lifestyle, delivering consumer-friendly and innovative products such as the premium Galaxy Series, while also moving beyond mobile convergence to include a focus on software and services. The Division is focused on meeting market demand by enhancing product differentiation via seamless integration of key features from various product categories. The Division expects mobile phones, digital media devices and personal computers, cameras and other devices to increasingly converge on, and in some cases be replaced by, smartphones and tablets. As a result, it has invested and will continue to invest significantly in research and development in new technologies, products, and services. In addition to handheld phone (“HHP”) products, which include smartphones, the IM Division is also leading technological development and standardization in the global network system market, including the one for Long Term Evolution (“LTE”). [DS Division] The DS Division comprises the Semiconductor sub-division and the Display Panel (“DP”) Business. The Semiconductor sub-division is further divided into the Memory Business and the System LSI Business. The Memory Business manufactures and sells DRAM and NAND products; the System LSI Business manufactures and sells mobile application processors (“mobile APs” or “APs”) and camera sensor chips; and the DP Business manufactures and sells display panels. The Company is constantly working 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 produces differentiated products and has maintained the top position in the global memory market by being the first to apply the latest advanced process technology for each technological iteration. The System LSI Unit 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. Building on its 2016 achievement of launching the world’s first 10nm products, the Foundry Business seeks to maintain the leading status by being the first to develop the 7nm process The Company’s OLED business is building a system that can respond swiftly to fluctuating market demand for flexible panels while maintaining a competitive edge by delivering differentiated products. The TFT-LCD business is improving its sales mix via
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