SEOUL, Nov 27 (AFP): Samsung Electronics reshuffled its leadership on Wednesday as it looks to gain an edge in the production of microchips used for artificial intelligence servers.
The world's largest memory chip maker issued a rare apology in October, acknowledging it was facing a "crisis" and that questions had arisen about its "fundamental technological competitiveness and the future of the company".
On Wednesday it tapped vice-chairman Jun Young-hyun to lead its memory business and appointed Han Jin-man, who headed the firm's US chips business, as the new boss of the chip foundry division. The reshuffle aims to "strengthen the company's growth and future competitiveness, focusing on the semiconductor business", Samsung said in a statement.
While the firm posted a 277 per cent rise in operating profits to $6.6 billion year-on-year in the third quarter, it missed market expectations. Its shares have fallen more than 27 per cent this year. Samsung has lagged South Korean rival SK hynix in producing high-bandwidth memory (HBM) chips used in AI chipsets and has struggled to secure certification from US titan Nvidia.
Samsung reshuffles leadership amid challenge in AI chips
FE Team | Published: November 27, 2024 23:56:55
Samsung reshuffles leadership amid challenge in AI chips
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