Major reshuffle for Samsung
South Korean electronics giant, Samsung has consolidated its business into two main units – a consumer and components division.
The restructure has been the result of falling consumer demand. The consumer division will concentrate on cellphones, televisions and household appliances, while the components division will focus on chips and display.
The company has also announced a management reshuffle, with the present cellphone unit president Choi Gee-Sung, taking over as the head of the consumer division. Lee Yoon-Woo, ceo, will take over the electronics parts business, although vice chairmen, Lee Ki-Tae – former head of the mobile phone business – and Hwang Chang-Kyu – head of the semiconductor business, are both out.
