Samsung Electronics has announced the sudden passing of its co-CEO, Han Jong-Hee, at the age of 63 due to a heart attack. Han, who joined Samsung in 1988, played a significant role in transforming the company’s television division into a global leader. He was instrumental in introducing Samsung’s world-class LED TVs and other technological innovations, solidifying the company’s dominance in the global TV market.
In 2022, Han was appointed as vice chairman and co-CEO, overseeing Samsung’s consumer electronics and smartphone divisions. Under his leadership, Samsung maintained its position as a top player in the smartphone industry, competing closely with rivals like Apple.
Following Han’s death, Jun Young-Hyun, who leads Samsung’s semiconductor division, will assume the role of sole CEO. This leadership change comes at a challenging time for Samsung, as the company faces increased competition in the tech industry. Competitors like SK Hynix have surpassed Samsung in supplying memory for AI server chips, and Apple continues to lead in smartphone sales. Taiwan Semiconductor Manufacturing Co. (TSMC) maintains dominance in advanced chip-making, further intensifying the competitive landscape.
Samsung’s stock has experienced a decline, contrasting with gains by competitors such as Apple, SK Hynix, and TSMC. The company also faces new competition from Chinese tech firms, contributing to a significant drop in its market share in smartphone displays.
Despite these challenges, some analysts believe that Samsung’s extensive chip-making capabilities and financial resources position it well for future investments in critical technologies. The company has plans to double its investment in Texas to $44 billion for new chip manufacturing, aiming to strengthen its position in the semiconductor industry.
Han Jong-Hee is survived by his wife and three children. His passing marks a significant loss for Samsung Electronics, and his contributions to the company’s growth and success will be remembered.
