ID :
192177
Fri, 07/01/2011 - 05:52
Auther :
Shortlink :
https://oananews.org//node/192177
The shortlink copeid
Samsung to sack chip, LCD heads on weak earnings
By Lee Youkyung
SEOUL, July 1 (Yonhap) -- Samsung Electronics Co., the world's largest-maker of memory chips and liquid crystal display (LCD) panels, will replace at least one of its semiconductor and LCD panel division chiefs due to their disappointing performances, an official said Friday.
As many as two new presidents will be appointed later in the day on worse-than-expected second-quarter earnings, a company official said by phone. The president of its semiconductor division and its LCD panel division chief are most likely to leave.
An executive reshuffle in the middle of the year is seen as unusual for the South Korean company and suggests future uphill challenges as it battles to cope with stiffer competition from rivals and flagging demand for consumer electronics products. The company usually conducts annual reshuffles at the end or beginning of each year.
Brokerages have revised down estimates of Samsung's second-quarter earnings as lower prices of memory chips, Samsung's flagship products, and LCD panels, used for TVs and mobiles phones, have likely hurt the company's earnings.
Earlier in the day, Choi Gee-sung, Samsung's vice chairman, said in a note to his employees that Samsung faces a "still uncertain" economic outlook for the rest of the year and 2012.
"We need to revamp our internal process and need to introduce products that go beyond customers' expectations to create profits," he said.
SEOUL, July 1 (Yonhap) -- Samsung Electronics Co., the world's largest-maker of memory chips and liquid crystal display (LCD) panels, will replace at least one of its semiconductor and LCD panel division chiefs due to their disappointing performances, an official said Friday.
As many as two new presidents will be appointed later in the day on worse-than-expected second-quarter earnings, a company official said by phone. The president of its semiconductor division and its LCD panel division chief are most likely to leave.
An executive reshuffle in the middle of the year is seen as unusual for the South Korean company and suggests future uphill challenges as it battles to cope with stiffer competition from rivals and flagging demand for consumer electronics products. The company usually conducts annual reshuffles at the end or beginning of each year.
Brokerages have revised down estimates of Samsung's second-quarter earnings as lower prices of memory chips, Samsung's flagship products, and LCD panels, used for TVs and mobiles phones, have likely hurt the company's earnings.
Earlier in the day, Choi Gee-sung, Samsung's vice chairman, said in a note to his employees that Samsung faces a "still uncertain" economic outlook for the rest of the year and 2012.
"We need to revamp our internal process and need to introduce products that go beyond customers' expectations to create profits," he said.
