Big cleanup at Samsung Electronics

Big cleanup at Samsung Electronics

Seoul, Dec. 8, 2021

Samsung Electronics announced that it has merged its mobile and consumer electronics units into one SET division and replaced the heads of three key business units.

The South Korean company has appointed two co-chiefs instead of three as part of its biggest internal restructuring since 2017.

The new CEOs will lead Samsung’s Device Solutions semiconductor business and the new SET Division, which focuses on cell phones, televisions and consumer electronics.

Samsung is working on advanced chips and technologies to compete with Taiwan Semiconductor Manufacturing Co. and other companies.

The restructuring will help the company focus more on chips and consumer devices such as smartphones to increase competitiveness in its next phase of growth.

Last month, Samsung announced plans for a chip plant near Austin, Texas, that is expected to be operational in the second half of 2024. The $17 billion facility is the company’s largest investment to date in the U.S. and will help strengthen its global semiconductor supply chain and meet rising demand.