Samsung Elec Appoints Mobile Chief as Interim Head of Consumer and Mobile Division

Roh Tae-moon, President and Head of Mobile eXperience Business at Samsung Electronics speaks during his keynote address as Samsung Electronics unveils its latest flagship smartphones in San Francisco, California, US, February 1, 2023. (Reuters)
Roh Tae-moon, President and Head of Mobile eXperience Business at Samsung Electronics speaks during his keynote address as Samsung Electronics unveils its latest flagship smartphones in San Francisco, California, US, February 1, 2023. (Reuters)
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Samsung Elec Appoints Mobile Chief as Interim Head of Consumer and Mobile Division

Roh Tae-moon, President and Head of Mobile eXperience Business at Samsung Electronics speaks during his keynote address as Samsung Electronics unveils its latest flagship smartphones in San Francisco, California, US, February 1, 2023. (Reuters)
Roh Tae-moon, President and Head of Mobile eXperience Business at Samsung Electronics speaks during his keynote address as Samsung Electronics unveils its latest flagship smartphones in San Francisco, California, US, February 1, 2023. (Reuters)

Samsung Electronics appointed on Tuesday its mobile chief Roh Tae-moon as acting head of the company's consumer and mobiles business, following the death of his predecessor, Han Jong-Hee, a week ago.

"Samsung Electronics plans to minimize the leadership vacuum in the DX Division through this executive reshuffle, and make every effort to strengthen global competitiveness and ensure thorough preparation for the future," Samsung said in a statement.

Roh, 56, has been in charge of the company's mobile business since 2020. Samsung said in March Roh has been "spearheading new smartphone markets" with AI phones and foldable phones as growth is slowing and competition is intensifying.

Roh will oversee the so-called DX division, which includes TVs, home appliances and smartphone businesses.

The death of Han, 63, who was in charge of its consumer electronics and mobile devices division, left newly-appointed boss Jun Young-hyun solely in charge of the South Korean tech giant as it revamps its underperforming chip business and navigates rising competition and trade uncertainties.

Samsung said the company's board of directors will decide on a new CEO later, and a spokesperson said that "nothing has been decided whether or not to keep the previous co-CEO structure at the moment."



Qualcomm Strengthens AI Portfolio with $2.4 Billion Alphawave Deal

The Qualcomm logo is during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. (Reuters)
The Qualcomm logo is during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. (Reuters)
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Qualcomm Strengthens AI Portfolio with $2.4 Billion Alphawave Deal

The Qualcomm logo is during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. (Reuters)
The Qualcomm logo is during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. (Reuters)

US chipmaker Qualcomm on Monday agreed to acquire British semiconductor company Alphawave for about $2.4 billion as part of efforts to strengthen its artificial intelligence technology.

Alphawave shareholders will receive 183 pence per share, a nearly 96% premium to the price immediately before Qualcomm disclosed its interest in the company. The shares jumped 22% in early London trade to just below the offer price.

US-based firms have been snapping up British assets, taking advantage of a market that is plagued by comparatively weaker valuations and stunted growth.

Alphawave, which designs and licenses semiconductor technology for data centers, networking and storage, had garnered takeover interest from Qualcomm and SoftBank-owned chip tech provider Arm in early April for its "serdes" technology.

The technology underpins the speed at which data is processed by chips - crucial for AI development - and serves as the foundation for Broadcom's and Marvell Technology's multibillion-dollar bespoke chip businesses.

Arm walked away after initial discussions with Alphawave, Reuters exclusively reported in April citing sources.

Qualcomm also tabled two alternative all-share offers to Alphawave's shareholders, after receiving multiple extensions from the UK's takeover panel to table a firm offer.

The British company said it considers the terms of the cash offer to be fair and reasonable and intends to unanimously recommend it to its shareholders.

Alphawave also completed the disposal of its stake in WiseWave, its joint venture with Chinese investment firm Wise Road Capital, to existing state shareholders on Monday.