It is no secret that Samsung is having a difficult year. Profits have dwindled amid strong competition from rivals, and the company having realized that has already vowed a host of changes. Among these changes is a major management shakeup, which could see mobile chief JK Shin lose his post, Wall Street Journal reports. Also Read - Best battery smartphones under Rs 15,000: Redmi Note 10T, Realme Narzo 30 and more
According to the publication, there are several scenarios being mooted by the company, and one of them could see Shin replaced by co-CEO B.K. Yoon, who currently heads the company’s home appliance and television business. Yoon won’t be giving up his current portfolio, instead the mobile arm will be added to his portfolio. This scenario, according to the publication, is quite plausible since Samsung has been working on ways to integrate home appliances with mobile devices. A third co-CEO, Kwon Oh-hyun, would remain in his current position overseeing components like semiconductors, and displays. Also Read - Upcoming phone launches to expect in August 2021: Redmi 10, iQOO 8, Realme GT, Samsung Galaxy A52s, more
There is also ongoing speculation over the company’s top-level management. Chairman Lee Kun-hee, who is credited with Samsung being where it is today, recently suffered a heart attack. While his son Jay Y. Lee is largely believed to be the one succeeding Kun-hee, Samsung has remained silent over any such plans.
Samsung recently recorded a 60 percent drop in quarterly net profit compared to the year before. As mentioned above, the company has vowed a raft of changes to arrest this downturn, one of which includes cutting smartphone models by up to 30 percent next year. Amid growing competition from rivals, Samsung has changed its smartphone philosophies as well. In place of the plastic phones, it has opted for devices with metallic materials, and going forward plans on using flexible displays as well.