Samsung Electronics announced it will merge its mobile and consumer electronics divisions. It also named new co-CEOs in its biggest reshuffle since 2017 to simplify its structure and focus on growing its logic chip business.
The head of visual display business, Han Jong-hee, was promoted to vice chairman and co-CEO, and will lead the newly merged division spanning mobile and consumer electronics as well as continuing to lead the TV business.
Han has risen through the ranks in Samsung’s visual display business, without experience in mobile.
Kyung Kye-hyun, CEO of Samsung Electro-Mechanics, was named co-CEO of Samsung Electronics and will lead the chip and components division.
The newly merged businesses differ in size. The mobile business made 3.36 trillion won ($2.84 billion) in operating profit in the July-September quarter, compared to consumer electronics’ 760 billion won.
Other high-profile promotions included naming as vice chairman Chung Hyun-ho, the head of a “task force” which is a central coordination unit for decision-making in Samsung Electronics and affiliate companies.
The last time Samsung Electronics named new CEOs was in late 2017.
Samsung Group is focusing on areas such as semiconductors, artificial intelligence, robotics and biopharmaceuticals, and plans to invest 240 trillion won ($206 billion) in these fields in the next three years.
Group flagship Samsung Electronics is aiming to overtake TSMC to become No. 1 in chip contract manufacturing by 2030 by investing about $150 billion into logic chip businesses including foundries.
Late last month, Samsung selected Taylor, Texas, one of the states in the United States, as the site of a planned $17 billion U.S. chip plant after months of deliberation.
