8/2/07

Report: Samsung restructuring handset unit

SEOUL, South Korea

Samsung Electronics Co. is restructuring its handset division to better cope with growing global competition, a media report said Wednesday.

Samsung is battling for second place in the global handset industry with U.S.-based Motorola Inc., behind Finland's Nokia Corp.

The South Korean company has recently hired a new marketing executive after setting up a global team in March to strengthen the division's overseas marketing and sales, reported Dow Jones Newswires, citing an unnamed company spokesman.

The move is part of the company's reform plans aimed at finding new sources of revenue, realigning businesses, cutting costs and personnel reshuffles, the spokesman said, according to the report.

The South Korean newspaper Maeil Business reported earlier Wednesday Samsung is restructuring its handset business, which may lead to some job cuts.

The Samsung spokesman said there won't be any "forceful" job cuts. He said the company is transferring some personnel to different divisions as part of business realignment.

It said earlier this month it may cooperate with luxury name brands such as Italian fashion house Armani to develop premium brand hand phones.

source

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