Samsung has merged its mobile business, the company’s largest money maker, with its consumer electronics division into a major restructuring meant to “strengthen the business’s competitiveness.” In addition, to combine divisions, the technology giant has also replaced all CEOs.
Jong-Hee Han, head of the television business, has been appointed vice chairman and co-CEO of the newly merged mobile and consumer electronics divisions. However, he will not leave his duties as head of visual display, and will instead lead both companies. According to Reuters, He has no experience with mobile, but Samsung gives him the credit for having played a key role in the company achieving top position in global TV sales over the past 1[ads1]5 years.
Meanwhile, Samsung President Kyehyun Kyung has also been appointed co-CEO and will now lead the chip and component division. Kyung is a semiconductor design expert and used to lead the company’s flash product and technology team. He is expected to “help maintain” Samsung’s semiconductor leadership and develop innovative ideas at the same time.
While mobile generated the biggest revenue ($ 24.2 billion) for Samsung in the third quarter of 2021, the chip business is not so far behind. The semiconductor business had $ 22.6 billion in revenue due to the increased demand for server DRAMs and for computers in general during the pandemic. Samsung aims to become the number one manufacturer of chip contracts over the next decade and has poured hundreds of billions into the business. Just in November, it announced that it was building a $ 17 billion semiconductor plant in Texas to produce advanced and sophisticated chips for smartphones, 5G and artificial intelligence.
All products recommended by Engadget are selected by our editorial staff, regardless of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we can earn an associated commission.