Last week, we told you how Samsung was considering three candidates with whom they could use to swap the head of it’s depreciating mobile department, Jong-Kyun Shin. This was coming after reports of Samsung’s third quarter showed a 60 percent deficit in profit despite little difference in total revenue.
Finally, Mr. Shin is going no where, at least for now. He took the Korean company a long way from the grass to grace since he got appointed as CEO in 2009. For that, Samsung say they still need him despite the rainy days.
“President [and co-CEO] JK Shin contributed substantially to Samsung Electronics becoming global mobile No. 1,” June Lee, the company’s head of communications said in an e-mail. “We believe that the opportunity to attempt a new leap forward in this changed environment.”
Samsung recently lost some important markets like China to Xiaomi and at some point, it was reported they have also been ousted by Micromax in India.