Samsung will not replace the head of its mobile electronics business, J.K. Shin, as had been suggested last month.
In an annual review of executives, Samsung decided to keep its three co-CEOs in place. Samsung recently recorded its worst financial performance in three years, with profits across its mobile device business crashing 60% amid slower sales of its high-end smartphones.
Lee June, Samsung Group Senior Vice President, credited Shin for being “a major contributor in Samsung Electronics’ emergence as the top global player in the handsets business.” Shin is being given the chance to turn the mobile device business around.
