South Korean tech giant Samsung Electronics 005930.KS said on Tuesday that its co-chief executive officer Han Jong-hee has died from cardiac arrest. Han was 63.
Han was in charge of Samsung's consumer electronics and mobile devices division, while another co-CEO Jun Young-hyun oversees the chip business of South Korea's biggest company.
News of Han's death comes as Samsung faces rising competition from Chinese rivals in the smartphone market, as well as in its TV and other consumer electronics businesses. Samsung has also ceded its smartphone market crown to Apple AAPL.O.
Han died from cardiac arrest while receiving treatment at a hospital during time off, a company spokesperson said, adding that a successor had not yet been decided.
Samsung Electronics shares were flat in morning trade.
Han was appointed Vice Chairman and CEO of Samsung Electronics in 2022, and one of the company's board members.
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