Samsung is changing the way it will operate going forward. The South Korean smartphone manufacturer has announced the merger of its mobile and consumer electronics business into one big division. Also Read - Samsung Galaxy S21 FE review: A flagship that was worth buying in 2021
As per Reuters, the idea behind the merger is to simplify the structure and focus on “growing the logic chip business”. The merger will appoint new co-CEOs. Additionally, there will be slight changes in other managerial roles as well. Also Read - Apple regains top spot in global smartphone shipments as Samsung slips
Samsung merges into one
According to the report suggests that Han Jong-see, who currently handles the visual display business, will be promoted as vice chairman and co-CEO. Han Jong-see is also said to lead the newly merged division. Also Read - Apple, Samsung to make smartphones worth Rs 37,000 crore in 2022 under govt’s PLI scheme
The merger will bring changes to most departments including the chip and components division. It is said that the CEO of Samsung Electro-Mechanics Kyung Kye-Hyun will become co-CEO and lead the chip and components division.
The report suggests that analysts predict the merger will help Samsung deal with issues it is facing in both smartphones as well as consumer electronics business.
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As per the report, some of the biggest issues that the company could address to start with are – supply chain constraints, rising raw material prices, logistics difficulties, growing competition from China and the United States, and much more.
Going by the reports circulating on the internet, the South Korean smartphone manufacturer is expected to surpass TSMC by 2030 to become the top chip manufacturer in the world. It is said, to accomplish the goal, the tech giant will need to invest around $150 billion in investments for developing new foundries and facilities.
In other news, the company is working on the upcoming Galaxy S series dubbed the Galaxy S22. As per reports, the smartphone series could go official around the month of February. Meanwhile, just a few weeks ago, the company confirmed to permanently discontinue the Galaxy Note series and shift focus on building foldable devices.