Just a few days after SamsungUpdate.com wrote on extensive changes in Samsung’s product strategy, reports indicate that the company is considering a major management shake-up. Samsung has been fighting hard to keep its global market share, facing competition from emerging heavyweights such as China’s Xiaomi. According to people familiar with the state of affairs at the South Korean tech giant, the company is apparently looking to revive its profitability following an already difficult year that has negatively impacted its fortunes.
Indeed, Samsung’s profit figures, stock prices and market share have all been dwindling.
One of the changes that have been reported involves the mobile division, which is currently headed by co-CEO J.K.Shin. Shin is a 58 year old executive who presided over the company’s recent tumble in smartphones. If Mr. Shin is moved, this could mean he loses his position as the company’s co-CEO.
Another corporate executive at Samsung who might be affected is B.K.Yoon, who leads the company’s home appliances and television division. But reports coming in indicate Mr. Yoon could also get the responsibility to lead the mobile division. Promoting Mr. Yoon’s role could help the company streamline its management structures so as to effectively respond to the increasing competition.
Mr. Yoon is 61 years old. If he’s given the go-ahead to lead the mobile division, he could help Sammy compete in the ‘connected-home’ sphere. Connected home is a new concept that seeks to link home devices and household appliances to the web. Mr. Yoon has of late emerged the company’s biggest leader in this direction, recently signing huge acquisitions, including that of American startup SmartThings.
According to reports, the reshuffle decision isn’t final. Thus, Mr. Yoon’s takeover as leader of mobile division, while anticipated by many, isn’t already a done deal. The company’s third co-CEO, 62-year old Oh-hyun, will likely to stay on the job.