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Samsung Elevates Fewer Executives This Year

South Korean conglomerate Samsung Group promoted fewer executives this year than it did last year, amid unimpressive results from its flagship unit Samsung Electronics Co. Ltd. (SMSN.L, SSNNF.OB, SSNLF.OB).

The company promoted only 353 executives this year, including nine foreigners and 14 women, compared to 476 last year.

Samsung Electronics elevated 165 executives, in comparison with 227 last year. In late October, the company reported a profit for the third quarter that nearly halved from last year, reflecting the continued drop in demand for its flagship Galaxy smartphones and tablets amid stiff competition.

It has also appeared in the media that three key executives of the mobile decision would be leaving.

Samsung Electronics added 0.3 percent in Seoul trading on Thursday to 1,301,000 Korean won.

by RTTNews Staff Writer

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