Samsung and Hyundai have announced that their businesses would encounter some uncertainties and difficulties in the future due to the problem of protectionism. An official at Samsung encouraged employees to improve the company and its standing by enhancing the quality control of the manufacturer.
According to Reddit, this is because the rate of growth is largely decreasing in the markets due to trade protectionism and sales are going down. Protectionism is creating a lot of uncertainties in politics and economy, which is having a particularly harmful effect on Samsung Electronics and its products.
Meanwhile, Samsung is also expected to release a statement on the explosions of its Note 7 smartphone, Tech Times reports. The combustion of the smartphone was a major headline in the tech world last year, but Samsung refused to comment on the overheating of the phone and it catching fire. The smartphone was promptly discontinued.
It is expected that by the end of this month, Samsung will finally give a much-awaited explanation to its users.
The chairman of the Hyundai Motor has also cautioned his workers regarding the increasing uncertainties which are expected this year. He discussed the diminishing rate of growth in the global economy, the increase in protectionism and also the huge competition in the auto industry as well.
In 2016, both the Hyundai and the Kia Motors were unable to achieve their sales target. Most of their sales were in the form of sports utility cars instead of sedans. The strike by the Hyundai employees last year also caused disruption in the work and brought down its total sales as it affected car production.