, the Chief Executive office of Samsung resigned after being associated with Samsung since 32 years. Samsung has shown tremendous growth in sales because of high demand microchip and display units.
August 2017, Samsung was hit by the corruption Mr. Lee, the heir to Samsung empire.
Mr. Kwon mentioned in a letter to the staff “As we are confronted with unprecedented crisis inside out, I believe that time has now come for the company starts anew, with a new spirit and young leadership to better respond to challenges arising from the rapidly changing IT industry.”
Samsung did not hold a press conference yet to talk about the crises in open and neither have they announced a successor. The other two CEO’s are already off the regular functioning of Samsung and with Mr. Lee imprisoned for next 5 years, the new generation is expected to step up and hold the rein of Samsung Empire.
Samsung Electronics revenues have come a long way. Last year same time the revenue 47.8 trillion due to faulty Galaxy Note7 release but this year it has gone up to 62 trillion in the third quarter. The next quarter of the year awaits the launch of Note 8 but with the crises around let see how the revenue shapes up.