Samsung planning major restructuring in management as profits dwindle

Samsung's declining profits and revenues might soon result in the company making changes to the management in its mobile business. According to a report in the Wall Street Journal, J.K. Shin, current mobile head of Samsung's mobile division, could be replaced by co-CEO B.K. Yoon, who currently heads the manufacturer's home appliance and television business (and will continue to do so even after becoming head of mobile.) Apparently, this is just one of many scenarios under discussion, scenarios that Samsung is hoping will improve its financial results and market share.

Samsung is also looking at making changes in specific markets. Samsung North America president Gregory Lee is expected to start consolidating the mobile and consumer electronics division, and the company is also searching for a new candidate for the position of mobile chief in the U.K. Samsung is already making changes in its smartphone lineup, with things like all-metal phones and curved displays leading the charge for now, and it looks like company management could soon be given a huge shake-up as well, if the report is to be believed.

Via | Source