Samsung Electronics Co. co-Chief Executive Officer Han Jong-Hee, who oversaw the world’s largest consumer gadgets and mobile devices business, has died at the age of 63.
The executive died Tuesday after suffering a cardiac arrest episode earlier, a spokesperson for the company said. Samsung stock dipped initially before recouping losses in Seoul.
Han, a three-decade Samsung veteran who began his career in the displays division, was appointed to his role just three years ago. He’s widely credited for building Samsung Electronics into the industry leader for TVs, displacing Japanese rivals such as Sony Group Corp.
He then oversaw a business that spanned most home appliances and competed with Apple Inc. in smartphones. Most recently, he took charge of efforts to integrate AI into Samsung’s range of Galaxy devices, in anticipation of a boom in artificial intelligence features for everyday use. Under Han’s leadership, the company has been installing AI chips in its fridges, washing machines and vacuum cleaners.
His death comes at a crucial juncture for the company as it seeks to catch up with SK Hynix Inc. in AI memory, and navigates sluggish demand for consumer electronics.
Last week, Han told attendees at Samsung’s annual shareholders’ meeting of the challenges facing the company. He told investors that 2025 would be a difficult year but the company would pursue mergers and acquisitions to address growth concerns.
Han shared leadership duties with Jun Young-hyun, who’s taken the helm of the company’s pivotal semiconductor business. Han was in charge of everything else at the massive electronics manufacturer.
“Ultimately, our goal is to create new products that people haven’t experienced before,” the 36-year Samsung veteran told Bloomberg News in January.
. Read more on Business by NDTV Profit.Han Jong-Hee, a three-decade Samsung veteran who began his career in the displays division, was appointed to his role just three years ago. Read MoreBusiness, World, Bloomberg
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