The tough competition in the smartphone industry has forced Samsung to implement a power shakeup that saw Roh Tae-moon rising to the ranks as new smartphone chief. He was previously the company's mobile business research head.
According to Bloomberg, Roh was promoted to the said position due to the increasing competition around the smartphone industry. The South Korean tech giant has set its eyes on once again retaining the top spot as the world's largest smartphone maker.
Roh has been recognized in the company as a leader who takes on cost-cutting aggressively and ensures that it can compete with rival companies such as Huawei, which offers lower prices since it is outsourcing production.
There are also other rivals rising in the smartphone industry besides Huawei. Another Chinese smartphone maker, Oppo, is also starting to gain traction in the sector, making Samsung more focused on improving its operations.
While Samsung remains on top of the game, accounting for over 20 percent of the world's total smartphone sales during the third quarter of 2019, Huawei is trailing behind close enough with 17 percent.
It is also worth noting that Huawei's massive sales came in at a critical time for the Chinese tech behemoth as it continues to battle with the White House after it was banned. The company also has to deal with the potential extradition of its Chief Financial Officer from Canada to the U.S.
As part of its efforts to retain the top position in the global smartphone market, Samsung announced earlier this month that it will invest $500 million on its India operations.
According to Tech Crunch, the goal is to build a manufacturing plant for the production of displays. In its filing, the South Korean tech provider revealed that some land area from its Noida factory will be used in developing the plant.
Industry analysts noted that once the manufacturing plant is all set for operations, it should help increase the company's capacity in creating smartphone parts. Furthermore, the company will save on taxes due to New Delhi's tax benefits.
In India, Samsung is only second-best to Xiaomi after the Chinese vendor overpowered South Korea's smartphone crown jewel since it entered the market. On the other hand, some industry experts believe the new plant will help the Galaxy creator have a stronger stance against its rival.
Meanwhile, Samsung has also collaborated with KT Corporation to reign in 5G connections to the former's Seoul Samsung Medical Center. The high-speed network should allow for remote surgery learning and the use of big data and robotics for in-patient care.
