Samsung has merge Its mobile business, the company’s Biggest money maker, Its consumer electronics division underwent a major reorganization, intended to “strengthen its business competitiveness.” In addition, in order to merge the departments, the technology giant also replaced all CEOs.
Jong-Hee Han, the head of the TV business, has been appointed as the vice chairman and co-CEO of the newly merged mobile and consumer electronics division. However, Han will not leave his responsibilities as the head of visual display, but will lead these two businesses.according to Reuters, Han has no experience in the mobile field, but Samsung believes that he has played a key role in the company’s leadership in global TV sales over the past 15 years.
At the same time, Samsung President Kyehyun Kyung has also been appointed as co-CEO and will now lead its chip and component division. Kyung is a semiconductor design expert and has led the company’s flash memory products and technology team. He is expected to “help maintain” Samsung’s semiconductor leadership while inspiring innovative ideas.
Although mobile generated the largest revenue for Samsung ($24.2 billion) in the third quarter of 2021, its chip business is not far behind. Due to increased demand for server DRAM and general computers during the pandemic, its semiconductor business revenue was US$22.6 billion. Samsung’s goal is to become the number one chip foundry manufacturer within the next ten years and has invested hundreds of billions of dollars in this business.Just in November of this year, it Announce It is building a $17 billion semiconductor factory in Texas to produce high-end and advanced chips for smartphones, 5G and artificial intelligence.
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