Samsung Electronics has unveiled a modest reshuffle that leaves virtually all the key unit chiefs in place, disappointing investors who had banked on the world’s biggest smartphone maker taking more radical steps to address its slumping market share and profits.
Contrary to market expectations, the South Korean company opted not to jettison Shin Jong-kyun, chief executive of its mobile division, or his two co-chief executives – Kwon Oh-hyun and Yoon Boo-keun, who head semiconductors and televisions respectively.
Mr Shin has been under pressure amid a rapid profit decline of the smartphone business as Samsung finds itself sandwiched between its erstwhile rival Apple and lower-cost Chinese competitors such as Xiaomi, Lenovo and Huawei.
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