He is also vice-chairman, CEO of the device solutions business (chips and LCDs) and CEO of Samsung Display, and has been at Samsung for 32 years. Sales are expected to weigh-in at around 63 trillion Korean won, while operating profit is forecast to be about 14.6 trillion Korean won.
That crisis is believed to be related to the ongoing bribery scandal surrounding Samsung, which recently saw the arrest of the company's heir and vice chairman Lee Jae-yong (also known as Jay Y Lee).
Samsung CEO Kwon Oh-hyun has announced that he will leave the company at the end of its current financial year in March, citing what he described as an "unprecedented crisis" in a letter to staff.
In a letter sent to all employees, Kwon said that announcing his retirement was the most hard thing for him to do, but now was the right time and that he believes his decision is in the best interest of the company. 'We are fortunately making record earnings right now, but this is the fruit of past decisions and investments. Lee was convicted on corruption charges to five years in prison in August, along with four other former Samsung executives.
Kwon also shared his sense of pride and honor with his employees, thanking them for their dedication and commitment to Samsung. Samsung hasn't given out information on the timing of succession, nor did it share who will take on Kwon's responsibilities when he leaves next year.
Friday's personnel announcement came shortly after the company said it was expecting to log 14.5 trillion won ($12.8 billion) in operating profits for the July-September quarter, an all-time record and almost three times the 5.2 trillion won of the same period a year earlier.
The company is set to release its final earnings report on October 31.
"The results are good ones that largely meet market expectations", Dongbu Securities Co analyst Kwon Sung-ryul said.
"The news is kind of unexpected", he said, though he added it will have no meaningful impact on Samsung's core business or stock price.
"The company has been riding a global semiconductor boom", he said, adding that the semiconductor business alone is believed to have contributed 10 trillion won to the operating profit.