South Korean tech giant Samsung Electronics co-CEO Han Jong-Hey died of a heart attack. He was 63 years old and head of the company’s consumer electronics and mobile device division. Han was undergoing treatment at the hospital during the holiday, where he suffered a heart attack. No decision has been taken so far regarding his successor.
Han Jong-Hey’s career and role in Samsung
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Han started his career in Samsung Electronics 40 years ago.
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He especially made his own identity in TV business.
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In 2022, he was appointed Vice President and CEO.
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He was also a board member of Samsung.
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The company’s second co-CEO, Jun Young-Hune Chip, handles the business.
Samsung’s current challenges
Weak profits and falling shares – The company has faced weak profits and decline in share price in recent quarters.
Competition in AI and Semiconductor Market – HBM is lagging behind in the market from companies like Samsung, SK Hinics and NVIDIA.
Lose to Apple in the smartphone market – Samsung recently lost its first place in the smartphone market.
Strict competition from Chinese companies – Samsung is getting a tough fight against Chinese companies in smartphones, TV and other electronics sectors.
Han’s apologies from shareholders
In the meeting of shareholders last week, Han said:
“I apologize on the performance of our shares. Last year, we could not react properly to the rapid changes in AI Semacist Market.”
He was scheduled to attend Samsung’s new home appliances launch event this week.
What will be Samsung’s next step?
Han’s successor may be announced soon.
The company will try to re -hold the semiconductor and smartphone market.
AI and advanced chip will be focused more on technology.
