The giant tech company Samsung announces record breaking profits post and the 3 new CEOs
By Mah Jabeen
A week back Samsung CEO resigned. But this did not affect Samsung sales. Today the giant tech company announced three new CEO’s for different department and also posted the record breaking quarterly revenue and profit.
Keeping in view a specific focus area, Samsung has announced the three new CEOs for individual department. Kim Kin-nam will be leading the Samsung components business, Kim Huyun-suk has been allotted in the consumer electronic and mobile, while the IT business will be leading by Koh Dong-jin. The company stated that they are “maintaining the current three co-CEO management structure” with these new announcements.
Previously Mr. Kim Ki-nam was leading Samsung Electronics semiconductor business and he has also served as a CEO of Samsung in the past and also ran the memory department.
The company stated that Mr. Kim Hyun-suk is an expert in display technology and helped lead the company to dominance in the global TV market; he has and has been previously worked as an CEO consumer electronics. He also added that, Mr Koh dong-jin will now serve as the CEO of mobile and IT business which was previously the head of Mobile R&D.
Below is what Samsung said about the announcement:
“The next generation of leaders are well suited to accelerate the pace of innovation and address the demands of the connected world. They have proven track records with extensive experience and outstanding expertise in their fields.”
And not only the new induction announcement the company also posted its record breaking profits. It made 14.53 trillion won (around $13 billion) in profit, breaking its own record of 14.1 trillion won set in the last quarter. It clearly portrays that how Samsung breaks its own records every quarter. The total revenue won was 62.05 trillion won that is around $55.4 billion in Q3, which is also higher that the last quarter.
The company has suffered a tremendous loss when it had to recall Galaxy Note 7 after the customer complaints of the set explosion arise. But the company did not give up and develop a better Galaxy Note 8. And according to Samsung, the Galaxy Note 8 helped the company by making record breaking profits.