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Samsung Elec to merge mobile and consumer electronics divisions -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Samsung Electronics logo is displayed on a dishwasher at the store in Seoul (South Korea), August 27, 2020. REUTERS/Kim Hong-Ji/File Photo

By Joyce Lee

SEOUL (Reuters) – Samsung Electronics (OTC) Co Ltd announced Tuesday that it would merge its consumer and mobile electronics divisions in order to focus on its logic chip business.

This is the latest indication of positive change at the largest smartphone and memory chip maker in the world, following the release from prison Jay Y. Lee’s bribery case.

Han Jonghee, the head of the visual display industry, has been promoted to vice chair and co-CEO. She will be leading the newly merged mobile and consumer electronic division.

Kyung Kye-hyun (KS:) Electro-Mechanics CEO, has been named co-CEO at Samsung Electronics. He will be responsible for the chips and components division.

Samsung Group will be focusing its efforts on semiconductors, artificial Intelligence, and robotics. It plans to invest 240 trillion won ($206 billion) over the next three-years in these areas.

Samsung Electronics Group’s flagship Samsung Electronics aims to take over TSMC in order to be No. By 2030, it will be No. 1 in chip contract manufacture.

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