SEOUL: Samsung Electronics announced on Tuesday it will merge its mobile and consumer electronics divisions as it focuses on growing its logic chip business.
The move is the latest sign of change at the world's largest memory chip and mobile maker, after Vice Chairman Jay Y Lee was released from a bribery conviction in August.
Han Jong-hee, the head of visual display business, has been promoted to vice chairman and co-CEO, and will lead the newly merged division spanning mobile and consumer electronics, as well as continuing to lead TV business.
Han has risen through the ranks in Samsung's visual display business, without experience in mobile.
Kyung Kye-hyun, CEO of Samsung Electro-Mechanics, was named co-CEO of Samsung Electronics and will lead the chip and components division.
Samsung Group plans to invest 240 trillion won US $206 billion in these areas over the next three years due to the focusing on areas such as semiconductors, artificial intelligence, robotics and biopharmaceuticals.
Samsung Electronics is aiming to surpass TSMC to become No. By 2030, chip contract manufacturing is expected to be 1 in chip contract manufacturing by investing about $150 billion into logic chip businesses, including foundries.
Late last month, Samsung chose Taylor, Texas as the site of a planned US $17 billion US chip plant after months of deliberation, coinciding with Lee's first business trip to the United States in five years.