According to a statement by the company, the heads of its three major business units will be replaced, while the company’s mobile and consumer electronics businesses will merge and become one single entity, with the restructuring producing two co-CEOs.
Samsung , the world's largest maker of smartphones, TVs and semiconductors has ambitious investment plans to compete against Taiwan Semi conductor Manufacturing Co. on advanced chip making, while it moves to displace other Chinese rivals with phones and other gadgets.
Samsung head of the Visual Display business, Jong-hee Han, has now been promoted to a co-CEO with responsibility for the SET division, having led the company to the top position in TV sales worldwide for 15 years running, with the company stressing that he is “expected to strengthen the synergies among the different businesses in the SET Division and help drive new businesses and technologies.”
the former CEO of Samsung Electronics, Kyehyun Kyung is another co-CEO who will be tasked with leading Samsung’s all-important, highly profitable semiconductors division. Kyehyun had previously worked on Samsung’s flash memory product team and the DRAM design team.
Kyehyun Kyung, who doubles as company’s president lead its chip and components division. Kyung, a semiconductor design expert, having led the company’s flash product and technology team, is expected to help maintain Samsung’s semiconductor leadership and conjure innovative ideas at the same time.
Samsung, the world’s second largest technology company by revenue, with its market capitalization standing at US$520.65 billion, is aiming to become the leading chip contract manufacturer within the next decade, as it has invested several of billions into the business. The company in November announced the building of a $17 billion semiconductor factory in Texas to manufacture high-end and advanced chips for smartphones, 5G and artificial intelligence.
With its assembly plants and sales networks in 74 countries, Samsung Electronics is hoping to break new grounds in its electronic business.
“Metaverse” remains one of the sources of fascinating discussions amongst internet users and tech enthusiasts. It’s one word that appears to be a popular term as it has received so much buzz within the tech space and reports in 2021 have shown that it’s a concept that has a future. Samsung is one of the latest tech houses that has joined the metaverse race with its own virtual reality world called “My House” and this is introduced in collaboration with Naver Z’s ZEPETO platform. In other words, Samsung isn’t trying to build its own metaverse from the scratch, rather, the company has agreed on terms that have allowed it to team up with Naver Z to utilize the ZEPETO metaverse platform.
Of course, the Metaverse is a virtual universe created by big tech companies, users can access this universe through the use of augmented lenses. The concept of the metaverse incorporates internet and IoT functionalities thereby allowing users to interact with each other in various virtual spaces.
According to reports, the ZEPETO platform has more than 250 million users worldwide already. This partnership will allow Samsung to bring its own virtual space into the ZEPETO metaverse through the My House world map. Samsung has described the experience as “a space-decorating experience” and visitors can decorate their metaverse homes using various Samsung products that will have their representation in virtual format.
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