The Secret Of Lee Kun Hee

Samsung Electronics, one of the world’s biggest electronics makers, has named a new chief executive officer.

Choi Gee-sung, the current chief executive, will become head of corporate strategy at the parent company Samsung Group.

Research suggests Samsung overtook Nokia to become the biggest maker of mobile phones during the first three months after the year, shipping 93 million phones compared to almost 83 million by Nokia.

Samsung is set to release its latest smartphone Galaxy S3 in the US in June, after it was introduced in the UK in May.

More Information Surrounding Lee Kun Hee

While the management shake-up came as a surprise, Samsung said it wouldn’t have a significant impact on the company’s daily operations.

Analysts said Samsung’s president, Lee Kun-hee, will maintain overall supervision of the company’s longer-term direction.

Separately on Thursday, Samsung said it would invest $1.9bn (£1.2bn) to create a chip plant as a means to meet the growing demand for processors for mobile devices.

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