Samsung today confirmed that their semiconductor and display business will be merged after they were separated in 2004. The move comes as the display division is facing losses and the merging of two different component business will help display division to offset their losses with burgeoning chip business.
This has expectedly given way to a reshuffle in the management, which will be led by Kwon Oh-hyun. Chang Won-kie, President of the display business will act as a deputy to Samsung’s CEO Choi Gee-sung.
Samsung is expected to release an earnings guidance next week where the display business is said to run into more losses in the second quarter.
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