Samsung has made major changes internally. Its mobile and consumer electronics division will be merged. Other people will also be heading the merged division. We discuss what Samsung has announced.
Samsung restructuring
Samsung’s mobile arm has traditionally been one of the company’s main sources of revenue and Samsung is now merging the division with its consumer electonics arm. The company wants to make itself more competitive this way, knows that Reuters. It is the largest restructuring the company has undergone since 2017.
The merged division will be headed by not one, but two CEOs. First up is Jong-Hee Han who is already the head of Samsung’s TV division. In principle, Han has no experience within the mobile branch of the company, but he has been rewarded by the strong growth of Samsung’s position in the television market over the past 15 years. Hee Han will also remain the head of the television department at the same time.
Investing in semiconductors
The second major player and co-CEO of the mobile and consumer electronics division is CEO Kyehyun Kyung. He is also responsible for the chip division within the company. Samsung sees revenues from semiconductor manufacturing continue to rise and at times outclass the profits from phone sales. In the third quarter of 2021, the mobile division generated a turnover of 21.4 billion euros. The chip division’s turnover was 20.1 billion in the same period.
Samsung aims to further leverage its growing chip business and become the world’s largest chip maker by 2030. In November, it was announced that the company was building a new semiconductor factory in the US state of Texas, an investment of 15.1 billion euros.
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– Thanks for information from Androidworld. Source