Samsung replaces its CEOs, and changes course

Determined to remain competitive against the Apple and increasingly aggressive Chinese competition, Samsung has made a major reshuffle in its divisions.

Now is the time for change. This week, we learn that the technological giant Samsung has merged its mobile division – which represents the bulk of its annual revenues – with its electronics division intended for the general public. A major restructuring for the company, which now intends ā€œStrengthen its commercial competitivenessā€, in the face of increasingly aggressive opponents. Especially since the change does not stop there: in addition to combining some of its divisions, the company has also replaced several of its CEOs.

Priority to chips?

Jong-Hee Han, the current head of the group’s TV division, will thus take on the role of vice-president and co-CEO of this new mobile and consumer electronics division. An accumulation of positions for the businessman, who will not leave his current position for all that. For his part, Kyehyun Kyung will assist Jong-Hee Han as co-CEO, while also leading the chips and electronic components division. A game of musical chairs that prompted the group to change several names within its internal organization chart.

This restructuring in favor of internal components represents a significant challenge for Samsung, whose objective is to continue to establish itself on the general public market, while developing its foundry activity. Recall that last November, the firm announced that it had generated a turnover of $ 22.6 billion in the third quarter of 2021, which is barely less than its mobile-related revenue ($ 24.2 billion). It had also started the construction of a factory in Texas, intended to ensure the manufacture of new high-end chips for smartphones, 5G and artificial intelligence.

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