Seoul, June 18 -- Samsung Electronics is leaning on artificial intelligence and aggressive cost-cutting measures to revive its consumer products business, retreating from low-margin markets while expanding AI across its products and manufacturing processes.

The tech giant used its twice-yearly strategy meetings this week to map out a turnaround for its consumer products business, betting on artificial intelligence and a retreat from low-margin markets to revive a division dwarfed by its booming chip operation.

According to a news report by The Korea Herald, the meetings ran on Tuesday and Wednesday at Samsung's Suwon, Gyeonggi Province, campus under co-CEO Roh Tae-moon, who heads the Device eXperience division that includes the smartpho...