There’s good news and bad news about Samsung. So first, the good news: Samsung is having a Q3 2017 of the ages! Then the bad news: Oh-Hyun Kwon, the CEO and Vice-Chairman, resigned. It’s Samsung…best of times…worst of times.
Furthermore, as Kwon exited, he said his soon to be former company was in a huge crisis on all sides. He also called for new leadership. I find this funny because 2017 is a fairly good year for Samsung, at lest financially. They reported great first and second quarter profits, and have a strong third quarter to boast about. In fact, it could double that of Q3 2016. On the surface, they truly overcame the the Galaxy S7 debacle of 2016.
But let’s not pop the champagne yet. This smartphone company has legal and social problems. In 2017, Vice-Chairman Jay W. Lee was found guilty of bribery and perjury. They say he paid people off in order for political favors. They also say he gave $36 million in order to win merger support. In August, a South Korean court sentenced him to five years in prison. But Samsung officials elected him as a CEO in 2012. Now, he’s leaving. In a statement, he said he can no longer put off his resignation. Kwon also called for new, young leadership that can roll with IT support’s rapidly changing industry.
This really is Samsung…best of times…worst of times. It’s amazing how they are in the midst of a one of the greatest comebacks in IT service history. But they’re also in the midst of one of the biggest scandals in smartphone history. So how does this happen? First of all, I’m happy Samsung overcame their fiasco. The things they endured last year could have put any company under. It almost did. So if they can overcome that, then can’t they overcome this latest scandal?