Samsung Mobile Executives Said to Leave

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samsung_branding_mobile_reuters.jpgSamsung Mobile Executives Said

Three deputies to the top of Samsung Electronics Co Ltd’s cell division are leaving, an individual with data of the topic said on Thursday, as the arena’s greatest smartphone maker faces a rapid decline in revenue.

The person, who declined to be named due to the sensitivity of the subject, said the executives directly report back to division chief J.ok. Shin, who this week retained his post despite sagging smartphone sales and expectations the company will see its worst annual profit in three years in 2014.

The departures integrated global marketing chief D.J. Lee, the source mentioned, confirming previous media experiences.

Samsung Electronics declined to claim if any executives had been leaving the company as it announced its annual reshuffle for executive-stage body of workers.

But the announcement showed Samsung had made 165 govt-level promotions, the lowest quantity in at the least four years, underscoring the lines the South Korean company is under.

“Shin was once given some other probability, given his prior contributions, however he’s going to indubitably proceed to feel the force going ahead,” stated IBK Securities analyst Lee Seung-woo beforehand of Samsung Electronics’ personnel announcement.

Samsung Mobile Executives Said to Leave After Profit Slide

Samsung’s share of the smartphone market has fallen yr-on-year for the closing three quarters, squeezed by chinese opponents like Xiaomi expertise Co Ltd on the low-finish andapple Inc’s iPhones within the top class phase.

Samsung Electronics is anticipated to announce its annual industry reorganization plan with the aid of next week.

The corporate has stored mum in regards to the small print but the Joongang Ilbo newspaper mentioned prior that Samsung will reduce executive-level positions for its cellular communications trade by means of 25 %. Different media stated the company might hive off its scientific tools business.

Samsung past this week stated it is going to promote its fibre optics business to U.S. specialty glass maker Corning Inc, its 2nd exit from a non-core business this quarter.