(9 days left!) Be the first with a 200MP camera! Visit Samsung to reserve and gain $100 in Samsung credit!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission. Learn more.

Lee Jae-yong becomes Executive Chairman of Samsung Electronics

Business
By 

Last updated: October 27th, 2022 at 07:25 UTC+02:00

Samsung has just announced that Lee Jae-yong has been appointed as Samsung Electronics’ Executive Chairman. The board approved the appointment after the recommendation by current board chairman Kim Han-jo. The post had been vacant for the past two years since the death of former Chairman Lee Kun-hee.

Samsung Group’s board said that the company needs stronger business accountability and stability during the current global uncertainties. Some reports claimed that there would be an inaugural speech by Lee Jae-yong on November 1, but the South Korean firm said that there would be no ceremony or inaugural speech.

Lee Jae-yong, the son of Lee Kun-hee and the grandson of Samsung founder Lee Byung-chull, was appointed Samsung Electronics Vice Chairman ten years ago. However, he was embroiled in various legal cases over the past few years. He was sent to jail twice on charges of corruption and capital fraud. However, he was pardoned by South Korea’s President and released before the jail term ended.

Earlier this week, Samsung held a memorial for the death of Lee Kun-hee, who turned Samsung from a contract manufacturer into the consumer electronics giant that it is today. He was bedridden after he suffered a heart attack in 2014 and passed away in 2020. The memorial function was attended by hundreds of current and former Samsung executives.

Lee Jae-yong reportedly said that he heard the voices of young Samsung employees. He said that he wants the company to be relentless but also flexible so that the work culture evolves and brings the best out of its workers. The company is facing tough competition from Chinese brands and Apple in the consumer electronics space and TSMC in the semiconductor fabrication segment.

Business Lee Jae-yongSamsung DisplaySamsung DXSamsung ElectronicsSamsung FoundrySamsung MXSamsung SemiconductorSouth KoreaSystem LSI
Load 0 comments

You might also like

Samsung’s new move could make screen replacements costlier in the US

Samsung Display is trying to stop imports of third-party OLED screen replacements for smartphones in the US. The South Korean firm has filed a request with the ITC (International Trade Commission) to investigate the import of third-party smartphone OLED panels for independent repair stores. And this could strike a massive blow to the entire repair […]

  • By Asif Iqbal Shaik
  • 4 hours ago

Samsung will continue to use special Snapdragon chip next year

For the first time in history, Samsung will use a Qualcomm Snapdragon chipset in all its Galaxy S series smartphones (Galaxy S23) sold worldwide. And this change comes after years of disappointments with its in-house Exynos processors. However, Samsung isn’t using the same Snapdragon chip everyone else uses. The South Korean firm will use a […]

  • By Asif Iqbal Shaik
  • 11 hours ago

Samsung’s new 120Hz OLED display for laptops could be used in Galaxy Book 3 Ultra

Samsung Display has unveiled a new OLED panel for laptops. It measures 16 inches diagonally, has a 3K resolution with a 16:10 aspect ratio, and features a 120Hz refresh rate. The company claims that it is the world’s first laptop OLED panel with an integrated touchscreen. It revealed that the panel would be used in […]

  • By Asif Iqbal Shaik
  • 14 hours ago

Samsung signs multi-year 5G patent deal with Nokia

Samsung, the biggest smartphone brand in the world, has signed a multi-year 5G patent agreement with Nokia. As a part of this long-term agreement, the South Korean firm will use Nokia’s fundamental inventions in 5G and other technologies in its smartphones and other mobile devices. Samsung Electronics will make royalty payments to Nokia for its […]

  • By Asif Iqbal Shaik
  • 1 day ago

Samsung is working on Lifelike Pixels for OLED screens

Just days before unveiling the Galaxy S23 series, Samsung applied for a trademark for a new display technology that will be used in future products. The South Korean firm’s display manufacturing arm appears to be making improvements to its already stellar OLED technology. In South Korea, Samsung has applied for trademark registration (via GalaxyClub) for […]

  • By Asif Iqbal Shaik
  • 4 days ago

Xiaomi phone with Samsung E6 OLED breaks Android display brightness record

Samsung recently showcased its newest OLED panel—E6 Super AMOLED—for smartphones that can reach up to 2,000 nits of peak brightness. It is the same panel used in the iPhone 14 Pro and the iPhone 14 Pro Max. Now, Android smartphone makers have started using the same panel, and Xiaomi’s latest phone seems to have broken […]

  • By Asif Iqbal Shaik
  • 4 days ago