Reported: Chief executive of Samsung Electronics Kwon Oh-hyun has resigned citing an “unprecedented crisis”.

His resignation comes on the same day the firm forecast record quarterly profits, citing higher memory chip prices.


Mr. Kwon said he had been thinking about his departure “for quite some time” and could “ no longer put it off.” But he will remain on the Samsung Electronic Board until March 2018, and a spokesperson for Samsung told BBC in response to the criticism that a successor would be appointed ”soon” but could not give a timeframe.


He also added that, “ as we are confronted with unprecedented crisis inside out, I believe that time has now come for the company to start anew, with a new spirit and young leadership to better respond to challenges arising from the rapidly changing IT industry.”


 However, it seems like corruption and the leadership troubles did not affect company’s revenue record.


The world’s largest smartphone maker projected operating profit has almost tripled in the three months to the end of September ($12.81bn) , compared to a year ago, reported. 

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