Samsung Electronics will merge its mobile and electrical units, appointing new co-managers, in the biggest reshuffle since 2017, to simplify its structure and focus on processor logic activities.
The two co-directors, instead of the three, will lead the South Korean company as it turns to the two business pillars of processors and consumer devices, including smartphones, to help lead the next phase of growth and boost competitiveness.
Samsung, whose Galaxy brand helped it become the world’s largest smartphone maker, is seeking to revive a slowdown in mobile growth, with its profit margin shrinking to 21% in the last quarter, from almost 70% at peak of the early 2010s.
On the contrary, the activities of components, mainly processors, have become more profitable, aided by the explosion of data storage and the recent shortage of semiconductor supply worldwide.
The activities yielded almost three quarters of 15.8 trillion. won ($ 13.4 billion) in operating profit in the previous quarter.
Samsung also announced that Han Jong-hee, head of display operations, will become co-CEO, and will lead the new merged unit of electrical and consumer electronics as well as continue to lead the TV business.
Han has climbed the ladder of Samsung’s display business with no mobile experience.
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Source From: Capital

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