Samsung to split into two firms, first in 47 years

Updated 2016-11-30 16:03:22

Tech giant Samsung Electronics is considering creating a holding company in what would be the biggest shake-up in its 47-year history. The governance overhaul will include splitting the company into a holding firm and a producing and operating unit. The announcement comes as the electronics giant is seeking to ensure a smooth succession to Vice Chairman Lee Jae-Yong, scion of the parent Samsung group's founding Lee family.

The company is also struggling to contain the fallout from a global recall of its Galaxy Note 7 smartphone on exploding batteries, as well as a political scandal surrounding President Park Geun-Hye. Samsung aims to finish the split in May or June next year. But analysts are taking a cautious mood.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58March 20 2018 23:25:14

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16March 20 2018 23:25:14

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18March 20 2018 23:25:14

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords