Samsung today has announced that it is co-CEO and mobile division leader JK Shin is stepping down from the day-to-day operations of the smartphone portion of the company. Shin will be replaced by Dongjin Koh who will run the day-to-day operations of Samsung Mobile. Shin will stay, but without the little of president of mobile reports Bloomberg.
Samsung U28E590D 28-Inch 4K Monitor
Dongjin Koh helped develop Samsung’s most recent Galaxy S6 and Galaxy Note 5 devices. Koh was previously head of the mobile research and development at Samsung, but his new role as president will allow for a more hands-on role in developing and launching new smartphones and tablets.
Shin will remain on-board as the president and co-chief executive officer of Samsung’s electronics business with a focus on the “long-term business strategy” of the company. Samsung made this announcement as part of its annual management revamp.
Samsung has faced more than its fair share of challenges recently. The company’s smartphone shipments are set to decline annually for the second straight year. Samsung is facing renewed competition from Apple on the high-end of the market and Xiaomi and Huawei at the budget end. Earnings for Samsung are predicted to fall 8.2 percent this year compared to last year. That drop will put revenues at the lowest number since 2011.