Samsung keeps mobile chief despite profit plunge
SEOUL, South Korea (AP) — Samsung has retained the chief of its mobile business despite a steep decline in mobile profit as the group opts for stability over change.
The announcement was part of Samsung group’s first management reshuffle since its chairman’s hospitalization after he had suffered a heart attack in May.
Samsung spokesman Lee June said Monday that Shin Jong-kyun, president of mobile communications at Samsung Electronics Co., has made a significant contribution to Samsung’s rise to the world’s top mobile-phone maker.
Some analysts expected Shin to step down from his position to claim responsibility for Samsung’s failure to respond quickly enough to the rise of Chinese smartphone makers and Apple’s new iPhones. Samsung’s third-quarter mobile profit fell to just one quarter of the previous year’s level.