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December 1, 2014

Samsung’s JK Shin survives company reshuffle

Samsung working to stabilise its senior management to improve profit.

By CBR Staff Writer

Samsung Electronics’ mobile communications president JK Shin has survived the company’s executive restructuring process, despite a steep drop in the unit’s profit.

Prior to the current decision, Shin was one among the casualties in a company-wide annual reshuffle aimed to replenish the bottomline and improve profit.

As part of the reshuffle, Shin will now lead a much smaller team, with further details on the restructuring of its various units to be revealed next week, The Associated Press (AP) noted.

The South Korean smartphone maker, which once dominated global mobile sales, has been facing steep competition from Chinese companies that are capturing market share in its major markets with economical yet feature-heavy devices.

Samsung is also working to stabilise its senior management following the hospitalisation of its chairman Lee Kun-hee in May.

In a statement to Reuters, Samsung senior vice president Lee June said that Shin has been a ‘a major contributor in Samsung Electronics’ emergence as the top global player in the handsets business’, while adding that Shin would soon pick up the division’s performance.

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