Samsung

[Guest]

Another chief exec is leaving Samsung, but this time…not in handcuffs. Kwon Oh-hyun, one of three Samsung Electronics CEOs, will be stepping down as the South Korean tech company faces what he calls an “unprecedented crisis.”

Of course, Kwon is referring to Samsung’s de facto leader, Lee Jae-yong, being sentenced to five years for bribery. But he also expressed concerns about Samsung’s growth moving forward. 

And he’s not just being a drama queen—competition is brewing. 

A state-backed Chinese manufacturer invested $24 billion into memory chip production. And don’t forget: the Bain-Apple group just scooped up Toshiba’s $18 billion memory chip business.

The world’s No. 1 chip manufacturer may have had no trouble shaking off the Galaxy Note 7 firestorm…its stock is up 50% this year, and operating profit is projected to hit a record high in Q3 ($12.80 billion). 

But let’s be real, it’s never a good sign when someone dubbed “Mr. Chip” resigns from a chip giant.

https://www.morningbrew.com/stories/samsung-shakeup/

[TheWorldNewsOrg]

• Samsung will reportedly launch its foldable phone in the first half of next year and produce at least 1 million units.