Samsung Electronics co-CEO dies, worsening tech giant's 'crisis' moment

The head of Samsung Electronics' smartphone and consumer electronics business died from cardiac arrest on Tuesday, jolting the South Korean technology giant during a business slide that leaders have called a crisis.

- Timothy W. Martin & Yang Jie

Jong-hee Han, 63 years old, was appointed co-CEO of Samsung Electronics in December 2021.

Samsung makes myriad electronic gadgets and appliances, from smartphones to washing machines to televisions. It is also a major components supplier to other tech companies. But the Suwon, South Korea-based company has stumbled in recent years, as the tech industry has undergone an artificial-intelligence boom.

Rival SK Hynix outmaneuvered Samsung to become the early supplier to Nvidia, providing the niche type of memory needed for AI chips and other related technologies.

In 2024, for the second straight year, Apple shipped more smartphones than Samsung, which had long held the No. 1 spot.

Taiwan Semiconductor Manufacturing, known as TSMC, has extended its dominance in advanced chipmaking and recently unveiled plans to spend at least $100 billion more in U.S. production.

Spurred by incentives offered by the Biden administration, Samsung said it would invest tens of billions of dollars to expand chip production in Texas. But those bets now can be seen as liabilities, as President Trump rolls back Biden-era policies.