Samsung Group that handles all the subsidiaries producing different products has announced that they will undergo a major organizational change. The company will now be divided into two separate divisions – Device Solution and Digital Media and Communications divisions.

The Device Solution will have the semiconductor and LCD businesses which will be headed under the leadership of Lee Yoon-woo. On the other hand, the Digital Media and Communications division will be headed by Choi Gee-sung which will combine businesses of televisions, mobile phones, printers, computers and home appliances.

Apart from the changes, Samsung will also cut the pay of top execs up to 20%.

[Via Yahoo]