SEOUL (Reuters) – Samsung Electronics Co Ltd on Monday named its youngest president as its new smartphone chief as the firm seeks to defend its lead in the handset market from rising challenges from rivals such as Huawei Technologies Co Ltd.
The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, March 23, 2018. REUTERS/Kim Hong-Ji
The South Korean firm also promoted the head of its network equipment business, which analysts said got a lift from a U.S. campaign to convince allies to bar Huawei from their networks.
Samsung took an early lead in smartphones running on quicker fifth-generation (5G) telecommunication networks, but Huawei is widely expected to boost sales of 5G-capable smartphones and equipment this year, leveraging its huge home market.
“Samsung’s reshuffle seems aimed at coping with a potential major market change with the new technology,” said analyst Tom Kang at Counterpoint. “The young executive is known to be decisive and so…
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