Samsung has appointed Sung Yong Hong as its new chief executive officer (CEO) and president for Africa, who will leave his role as president of Samsung Electronics in Turkey.
Hong replaces Kwang Kee Park who heads to Samsung South East Asia as president and CEO following a three year stay in Africa where he initiated a number of projects, especially under corporate social responsibility.
Samsung said Hong will use his experience from Turkey, another emerging market, to take on the African role.
Meanwhile, Samsung’s operating profit has shot up by 47.5 per cent in the second quarter to US$8.5 billion boosted by sales of the Samsung S4 that have hit 10 million worldwide.
The mobile division, accounting for more than 60 per cent of the company’s revenue, rose by 52 per cent, compared to the same period last year, to US$5.6 billion, but the figure was down 3.5 per cent compared to the previous quarter.
Despite the good results the company says it expects a slowdown in sales over the third quarter citing economic problems in Europe as well as increased competition.
Samsung however still managed to sell more than 72.4 million smartphones during the period, representing 30.4 per cent market share according to the IDC.
Samsung said that smartphone sales will continue to be slower in the third quarter.
“Entering into a typically strong season for the IT industry, we expect earnings to continue to increase. However, we cannot overlook delayed economic recovery in Europe and risks from increased competition for smartphone and other set products,” said Samsung head of investor relations Robert Yi.
