Samsung Replaces TV division Chief As Competition From Chinese Rivals Intensifies
Samsung Electronics has replaced its TV division head for the first time in over two years amid rising Chinese competition.
Samsung Electronics has replaced its TV division head for the first time in over two years amid rising Chinese competition.
Samsung Electronics, the world’s leading TV manufacturer, has replaced its head of television operations for the first time in more than two years, in a move seen as part of efforts to respond to growing competition from Chinese brands at home and abroad.
In a statement on Monday, Samsung announced that Lee Won-jin, formerly head of its Global Marketing Office, has been appointed as the new head of its Visual Display Business. He replaces Yong Seok-woo, who will now serve as an adviser to the company.
The company did not disclose the reason for the leadership change, which comes outside its usual annual management reshuffle cycle typically held in December.
A Samsung Electronics official told Reuters that the change is intended to refresh the division’s direction amid rising competitive pressure in the global TV market.
According to the official, “the new leader is expected to bring a fresh perspective and the change needed for the TV business, which is facing intensifying market competition.”
The leadership shake-up comes as competition in the global home entertainment sector continues to intensify. In March, China’s TCL Electronics and Japan’s Sony signed binding agreements for a strategic partnership in the home entertainment space, further increasing pressure on established players like Samsung.
Separately, reports by the Nikkei newspaper previously suggested Samsung had been considering discontinuing sales of home appliances and TVs in China within the year, as domestic Chinese manufacturers continue to gain market share by undercutting foreign competitors.
Samsung itself said last month that its TV division’s profit fell in the first quarter, citing weak demand and rising raw material costs.
Lee Won-jin, the newly appointed head of the Visual Display Business, previously worked at Google before joining Samsung in 2014, bringing with him experience in global marketing and digital strategy as the company seeks to reposition its TV business in an increasingly competitive market.
