Samsung announces three new CEOs and posts record profits

Samsung Electronics CEO Kwon Oh-hyun unexpectedly announced his plans to step down earlier this month, citing the need for new leadership amid “unprecedented crisis,” and the company has now announced his replacements. There’ll be three leaders each with a specific area of focus — Kim Ki-nam heading up the components business, Kim Hyun-suk (HS Kim) running consumer electronics, and Koh Dong-jin (DJ Koh) in charge of mobile and IT.

Yoon Boo-keun (BK Yoon) and Shin Jong-kyun (JK Shin) are resigning altogether from their previous co-CEO roles after stepping back from direct control in 2015. It’s not clear whether any one of the new leaders will have an elevated status similar to Kwon’s — Samsung’s announcement describes the new arrangement as “maintaining the current three co-CEO management structure.”

Kim Ki-nam was already responsible for Samsung Electronics' overall semiconductor business, and variously in the past ran the memory division and was CEO of Samsung Display. Samsung describes Kim Hyun-suk as an expert in display technology, having helped lead the company to dominance in the global TV market. Koh Dong-jin was formerly the head of mobile R&D and took over from Shin as mobile leader in 2015.

“The next generation of leaders are well suited to accelerate the pace of innovation and address the demands of the connected world,” Kwon said in a statement. “They have proven track records with extensive experience and outstanding expertise in their fields.”

The news comes as Samsung announced its highest ever quarterly profits. It made 14.53 trillion won (about $13 billion) in operating profit off 62.05 trillion won ($55.4 billion) in revenue between July and September, beating the record of 14.1 trillion won set last quarter. The semiconductor business was the biggest driver — Samsung says that the Galaxy Note 8 helped the mobile business post strong shipments, but profit actually declined quarter-on-quarter because sales of lower-end models were higher.

Comments

Since DJ Koh took over Samsungs mobile devices have really become much better. So good for him.

Samsung announces three new CEOs

… they will lead Bribing, Intimidation and Industrial Espionage departments.

When an Asian company does it it’s:

Bribing, Intimidation, and Industrial Espionage.

When Apple does it it’s:

Lobbying, Legal Persuasion, and Opposition Research

See the difference?

Samsung
NOTE 8 BEAST

sounds like Noted Beast

Waiting for the 10billion Death Star Campus in South Korea

It would be interesting if Samsung got in on the exotic campus game like google and apple.

Apple

Google

Samsung? They certainly make enough profit for one of these real life "Wonders" from age of empires. Why not build one? And their tendrils are in so many different tech areas it would not be wasted to have some sort of sprawling technology beacon. Maybe they could incorporate that Neo Seoul look from cloud atlas

I’m a big fan of these sorts of more inspired architectural projects. Most buildings that are made are not designed to be paragons of beauty and wonder.

The semiconductor business was the biggest driver — Samsung says that the Galaxy Note 8 helped the mobile business post strong shipments, but profit actually declined quarter-on-quarter because sales of lower-end models were higher.

This is what I’ve been trying to knock into everyone’s noggins.

Just you? I’ve been trying to get people to recognize that for three years now! They won’t acknowledge it for whatever reason, but Samsung’s high-end phone segment has been bleeding for years because their low-end market presence is so astronomical. The most costly phone available from them right now is about $950 USD, yet their ASP is around $200 USD, and that’s an insane gap in potential earnings. They REALLY need to cut back on the number of models they make in order to keep the ball rolling.

For the sake of details, it is important to note that revenues YoY for Mobile and IT division have increased more than 24% (profits even more).

YoY comparison is normally a better indicator of sales trend because it takes away the seasonal trends you have with QoQ comparisons.

In fact last year (and previously) 3Q revenues and profits decreased QoQ, just like this year, because the summer season is normally a relatively quiet moment, given S8 big sales are in Q2 and for Note at the end of Q3 going into Q4. That leads to more sales in the low end and less in high end, with consequently a lower revenue QoQ. But YoY the Mobile division looks certainly on a very positive trend.

For further info and details here is the Samsung press release.

Shhhh. Your logic is not fitting in their narrative.

Yeah I know, but I can’t help myself!

Where are the sources for these data?
You guys are failing the basics of Journalism 101: cite sources.

You can find the original press release from Samsung here

View All Comments
Back to top ↑