Samsung has elevated its “New Business Task Force (TF)” into a full-fledged “New Business Team” within the Device Experience (DX) division, which includes the smartphone unit. This move comes just three years after the TF’s formation, signaling a new direction for its long-term growth strategy. The firm might be looking to accelerate large-scale mergers and acquisitions (M&A), which have been absent lately.
Samsung’s Task Force is now a permanent business team
In its latest business report, Samsung’s DX division revealed that it has reorganized and upgraded the New Business TF into a permanent team for exploring future growth strategies and business opportunities. Vice President Baek Jong-soo will lead the team. The New Business TF was previously under Vice Chairman Han Jong-hee since its inception in 2022.
Over the past three years, this task force has played an integral role in scouting emerging business prospects for Samsung’s DX division. However, the company’s decision to institutionalize the task force suggests it has bigger plans. Industry insiders speculate that Samsung might be preparing for large-scale M&A deals, which have been missing for nearly a decade.
Samsung hasn’t made a large acquisition in years
While Samsung has made smaller acquisitions in recent years — such as the purchase of Oxford Semantic Technologies last year — its last major acquisition was Harman in 2016. This organizational shift suggests a broader ambition for larger, strategic deals. Samsung must be looking to strengthen its technological capabilities and secure its leadership position in future markets.
Industry experts believe that the Korean behemoth is positioning itself to secure key acquisitions in areas such as artificial intelligence (AI), robotics, and semiconductors to maintain its competitive edge in the rapidly evolving tech landscape. It sees AI as a key growth driver in the mobile space in the coming years. Samsung’s strategic M&A activities could be pivotal in shaping its future business portfolio.
