To say Samsung is experiencing a leadership crisis is an understatement. The company's chairman is incapacitated, the de facto leader is in prison and the conglomerate's powerful strategy group has been disbanded. The new appointees are Kim Ki-nam for components, Kim Hyun-suk for consumer electronics and Koh Dong-jin for the mobile division. In addition to a personnel shake-up, Samsung said it is looking to separate the roles of board chairman and CEO for the first time. Both roles were previously held by Kwon Oh-hyun, who is a co-CEO.
South Korean Conglomerate LG Electronics announced that it will heavily invest in robot technology and artificial technology according to a report by Reuters Sunday. LG, Samsung's rival, is seeking to take advantage of recent advances in artificial intelligence which have the potential of creating sophisticated machines that can perform mundane everyday human tasks. LG, in a statement, said that its appliances division is preparing to enter the robotics industry, like Apple, Google, and Samsung, to create products which can integrate with their appliances products such as refrigerators, washers and air conditioning units. "We will prepare for the future by aggressively investing in smart home, robots and key components and strengthen the home appliances business's capabilities," said Jo Seung-jin, head of LG's appliances business, in the statement. Advances in artificial intelligence and wireless communications are making it possible for machines that are wifi-enabled to exchange information with each other and perform independent tasks.
FILE - In this Sept. 2, 2016, file photo, a woman walks by an advertisement of Samsung Electronics' Galaxy Note 7 smartphone at the company's showroom in Seoul, South Korea. Samsung Electronics said Friday, Jan. 20, 2017 it will announce the reason why its Galaxy Note 7 smartphones overheated and caught fire on Jan. 23.
SEOUL--Samsung Electronics Co. said Tuesday that it would boost dividends and consider restructuring the sprawling Samsung empire, as it seeks to blunt growing demands for dramatic governance reforms at South Korea's largest conglomerate. In a statement Tuesday, Samsung also said that it would return any cash in excess of 70 trillion Korean won ($59.8 billion) to shareholders and appoint a new independent company director with global...
In this Thursday, Oct. 12, 2017 photo, a visitor is silhouetted in front of a huge screen showing an image of Samsung Electronics' smartphones in Seoul, South Korea. Samsung Electronics says Friday, Oct. 13, 2017, its third quarter profit likely surged nearly three folds over a year earlier to a new record high.