Samsung Establishes Automotive Components Team

(RTTNews) - Samsung Electronics Co. (SMSN.L, SSNNF.OB, SSNLF.OB) said Wednesday that it established an automotive components team, which will initially focus on building its competencies in infotainment and autonomous driving vehicles. The operation will be headed by Executive Vice President Jonghwan Park and overseen by Vice Chairman & CEO Oh-Hyun Kwon.

Meanwhile, the company noted that it maintaining its three business divisions namely IT & Mobile Communications or IM, Consumer Electronics or CE, and Device Solutions or DS.

In addition, the Visual Display Business established an AV business team, and the Mobile Communications Business established Mobile Enhancing team focusing on wearables and mobile-related accessories.

In response to the growth of online channel sales, the company is establishing online operations teams in Korea and Southwest Asia. It will also create online organizations within key business units.

In addition, the company stated that it strengthened its product planning and R&D organizations with a focus on emerging markets. A product strategy center was established in China with the aim of creating an end-to-end product planning and R&D platform for locally developed products. The company will also expand its local product planning and R&D functions in India.

The Device Solutions Division plans to prepare for rapidly changing market conditions in the semiconductor industry by focusing on streamlining internal operations and increasing productivity while seizing new business opportunities.