Business
Samsung established new business Taskforce (TF) under CEO guidance
Recently, Samsung has set up a team (TF) to run new businesses directly under the CEO, leading to speculation that major merger and acquisition (M&A) deals are imminent. Last month, the company formed a team (TF) to run new businesses under the direct control of Han Jong-hee, vice-chairman and head of the DX unit.
As per the report, the TF is led by vice president Kim Jae-Yoon, former head of the Planning Team of the Management Support Office. Nearly 10 managers and staff members joined the team from various departments, including planning and strategic departments. A dedicated team is expected to accelerate M&A movements.
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Recntly, Samsung appointed semiconductor M&A expert Marco Chisari of Bank of America (BOA) as head of the Samsung Semiconductor Innovation Center. In addition, Ahn Jung-Hyun, vice president of the Business Support Task Force (TF), who was in charge of M&A deals, has been promoted to the presidency.
Samsung has also appointed Ahn as head of the future industry research division of Samsung Global Research. The deputy chairman Han also hinted that major M&A deals would be made. At a press conference at CES 2022 in Las Vegas in early 2022, Han said, “I think the good news about M&A agreements is coming soon.”
As competition has intensified in recent years with its global competitors on memory chips, TVs and smartphones, the company is facing growing calls from industry experts to make further efforts to find new growth engines for adoption.
Let us wait and see, what Samsung TF is planning to set up a new business in direction of the CEO.
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Samsung ranked first in market share in the global smartphone market in Q3, 2023. TrendForce report says that Samsung led the global Q3 smartphone market, recording a market share of 19.5%.
Overall production in the third quarter increased by 11.5% compared to the previous quarter to 60.1 million units. During the same period, Apple’s production increased by 17.9% to 49.5 million, thanks to iPhone 15.
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Third place was taken by Xiaomi (13.9%), followed by Oppo (12.6%) and Transion (8.6%). 6th place is Vivo (8%). Meanwhile, global smartphone production reached 308 million units, a 13% increase compared to the previous quarter and a 6.4% increase from the previous year.
Huawei’s re-entry into the flagship smartphone market targeting Apple has had a significant impact in China. Huawei is aiming to expand its high-end flagship series, focusing on the Chinese domestic market next year, so Apple “We plan to attack directly”.
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In Q3 2023, Samsung and Apple’s market share slightly declined, while an underdog Chinese phone brand appeared on the top 5 chart. In a recent development, Canalys published market research data for the third quarter, revealing Tanssion as the fifth best-seller globally.
According to the info, Samsung and Apple lead total sales with 20% and 17% market share, yet both have fallen from their 22% and 18% levels in 2022. However, Tanssion, the maker of Tecno, Itel, and Infinix phones, climbed from 6% global market share last year to 9% in 2023, a 50% jump.
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Apart from this, Xiaomi matched last year’s share only by “recovering” from a terrible first half of 2023. At the same time, OPPO has fallen steadily over the past two years, while fellow BBK brand vivo lost the top-5 slot it’s owned for years.
Overall, the global smartphone market underwent a slight drop of 1% in Q3 2023. Bolstered by regional recoveries and new product upgrade demand, the smartphone market recorded a double-digit sequential growth in Q3, ahead of the sales seasons.
Recently, research agency Counterpoint Research published their latest analysis. The report reveals that Samsung continued its leadership in the third quarter of 2023, while Apple remained in the second spot. However, both OEMs faced a decline of 1 percent year over year.
According to CR, slower consumer demand is the main factor in the dwindling sales. The market did see a slight 2 percent growth in Q3 compared to Q2, likely driven by last month’s iPhone 15 series launch. Samsung secured 20 percent market share, while Apple grabbed 16 percent sales.
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The Galaxy A-series was the key driver for the South Korean smartphone maker. Apple came in second with 16 percent of the market while Xiaomi rounded out the top three with its 12 percent share. Oppo (10 percent) and vivo (8 percent) were the remaining brands in the top five charts.
The newly released iPhone 15 series will help Apple score a lead over Samsung in the fourth quarter of the year. The results will arrive by early next year, and it’s expected that the US phone maker could surpass Samsung. Major camera upgrades and USB-C helped Apple register strong sales.