Samsung has decided to merge its mobile business with its consumer electronics division as most of its profits now come from the company’s semiconductor division. The number of CEOs has consequently been reduced from three to two.

The move makes sense considering the phone and tablet business now only brings about 21% of Samsung’s total profits, down from the 70% figure from 2010. This comes despite Samsung being the world’s largest phone manufacturer by volume, that is, if we split BBK Electronics into its OPPO, vivo, and OnePlus subsidiaries (via PhoneArena).

On the other hand, the chips and storage division made Samsung $13.4 billion in the last quarter alone, boosted by pandemic-induced demand.

Jong-Hee (JH) Han will now also lead the newly merged SET Division along with leading the company’s Visual Display (TV) Business, whereas Kyehyun Kyung is now the new CEO of the Device Solutions (components) division.

JH Han is a notable expert in TV research and development who helped the company achieve the number one spot in worldwide TV sales for the 15th year in a row. He is expected to improve synergies across the SET Division’s many businesses and assist in the development of new businesses and technology.

Kyungmook Lee, professor of business management at Seoul National University, had the following to say about the decision:

“Today’s announcement shows the company keeps its performance-driven culture. It also shows Jay Y. Lee’s willingness to more actively engage in management…Apple uses one OS for phones, PCs, and TVs and its products show seamless integration. Samsung’s IT products, however, lack such seamless integration between phones and gadgets. The merger between its consumer and mobile divisions, which have until now operated independently, may help fix this issue.”

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