Samsung said on Tuesday it has merged its mobile and consumer electronic divisions into one, with the newly created division to be led by a single CEO.
According to a new press release from the Korean company, Samsung has merged its mobile business, the company’s biggest moneymaker, with its consumer electronics division in a major restructuring meant to “strengthen its business competitiveness.”
The combined business unit, now called Set Division, will be led by JH Han, who was promoted to the CEO post for the unit. Previously, Samsung had individual CEOs for each of its mobile and consumer business units.
In the new CEO position, Han will be responsible for overseeing Samsung’s smartphone, TV, and home appliance operations, the press release explains.
Samsung said Han has played a major role in the conglomerate’s leadership in the TV sector, and that he would be “expected to strengthen the synergies among the different businesses in the Set Division and help drive new businesses and technologies.”
The consolidation of consumer offerings under one umbrella simplifies the company’s operational structure and may help the South Korean electronics giant better compete with competitors like Apple.
Kang’s appointment to lead the North American semiconductor business follows Samsung announcing last month it would spend an estimated $17 billion USD in the US to build a new semiconductor manufacturing facility to produce advanced logic chips.
Samsung is expected to announce further reshuffles for executives below the CEO and president levels in a couple of days.