Samsung Elec to merge mobile and consumer electronics divisions By Reuters

© Reuters. FILE PHOTO: The Samsung Electronics logo is seen on a dishwasher at its store in Seoul, South Korea, August 27, 2020. REUTERS / Kim Hong-Ji / File Photo

By Joyce Lee

SEOUL (Reuters) – Samsung Electronics (LON 🙂 Co Ltd said on Tuesday it would merge its mobile and consumer electronics divisions, as it focuses on growing its logic chip business.

The sweeping move is the latest sign of change at the world’s largest memory chip and smartphone maker, after Vice President Jay Y. Lee was released on parole in August following a corruption conviction. .

Head of visual display business Han Jong-hee has been promoted to vice president and co-CEO, and will lead the new merged division spanning mobile and consumer electronics.

Kyung Kye-hyun, CEO of Samsung Electro-Mechanics, has been appointed co-CEO of Samsung Electronics and will lead the chips and components division.

Samsung Group is focused on areas such as semiconductors, artificial intelligence, robotics and biopharmaceuticals, and plans to invest 240 trillion won ($ 206 billion) in these areas over the next three years.

The group’s flagship product, Samsung Electronics, aims to overtake TSMC to become the No. 1 in contract chip manufacturing by 2030.

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