But Kwon said while the semiconductor industry is in its most serious slump ever, “the crisis offers new opportunities. We won’t be shaken by short-term factors and will stick to our original plan again next year with a long-term outlook.”
Kwon also revealed that takeover negotiations for U.S.-based memory chip maker SanDisk are still in progress. “We are still negotiating the price, and we have finished the legal review to see if we would violate antitrust laws if we acquire SanDisk,” he said. Samsung Electronics last Wednesday officially offered to buy SanDisk for $26 per share, or $5.85 billion in total, but the SanDisk board rejected the offer.