Samsung Electronics appoints new chip business heads, CFO in reshuffle

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Samsung Electronics appoints new chip business heads, CFO in reshuffle - Business Standard

Quick Summary:

Samsung's share price has steadily fallen since August on investor concern that it is lagging rivals in supplying high-end chips to leading AI chip designer Nvidia.

The South Korean giant's shares fell 2 per cent at market open as the sweeping reshuffle of top brass did little to calm concern about competitiveness as well as policy risk associated with the incoming US administration of President-elect Donald Trump.

This week, in rare public comments, Chairman Lee said Samsung faces unprecedented challenges."I am fully aware that there are grave concerns about the future of Samsung recently," Lee said during the final hearing of an accounting fraud trial where he is a defendant.