Samsung has noticed that it faces quite the high level of competition from upcoming rivals like Huawei, and so has chosen to go through an executive reshuffle in a bid to combat this. The South Korean technology group recently named a new head of its smartphone operations department, which it hopes will reinvigorate its own business. Stiff competition has found its way to the top of the rankings, thanks to the fact that they’re providing cheaper alternatives to the Samsung brand.
Now, Roh Tae-moon has been appointed as the chief of the smartphone sector of Samsung, while four younger executives have also received promotions, becoming company presidents. Mr Roh was previously in the position of head of development for the Samsung Galaxy range of smartphones, whilst also spearheading a strategic shift by the company to be able to outsource more of its handset manufacturing to third parties based within China and further afield.
Samsung is currently the world’s largest manufacturer and distributor of computer chips, display panels and smartphones, and with this executive shake-up, the company is looking to propel the development of new growth drivers into top gear. It could be just what the brand needs as well, considering that it has reported financial drops on its earning for the previous five quarters. This, Samsung says, is due to global trade frictions and quite the downturn in the market for memory chips. While it may be uncertain to bet on the future of Samsung for the moment, should you find yourself wanting to participate in such betting activities, you could do so at a recommended platform. Check out the 1xbet review at BetEnemy to find out more about making such wagers. This details all of the features of the 1xbet website, including the types of betting you’re able to participate in. And if it looks intriguing to you, why not sign up for an account there for free and start betting on your favourites?
Shake-Up Delayed from 2019
The original shake-up in the executive board of Samsung was actually supposed to take place last year. Yet, the Samsung group’s de facto leader Lee Jae-yong is currently facing a final court ruling regarding accusations of bribery following many years of skirting around the legal system. The verdict of that ruling is expected to arrive in the upcoming weeks, and it could see Mr Lee being returned to a jail cell. Therefore, the reshuffle could, Samsung said, help it to cope in the view of potential uncertain global business.
As it happens, with the world getting set to turn on completely to 5G, smartphones with such capabilities have already been in high demand. As more and more countries become 5G-ready, that demand is likely to increase even more so, with Apple looking to launch its own 5G-capable handsets this year.
“Samsung has benefited from Huawei’s trouble in network equipment and Apple’s absence in 5G smartphones,” said Head of research company CEOScore, Park Ju-geun. Yet, even though this is the case, Samsung still posted huge losses in 2016 after the need to withdraw its Galaxy Note 7 smartphone due to it being fire prone. What’s more, it had to delay the launch of what was said to be a highly anticipated foldable smartphone last year, due to a significant number of malfunctions. Alas, where the United States sales are concerned, it has still managed to increase its market share, thanks to the fact that a curb was put on Huawei sales following security concerns.