SEOUL, South Korea — As Samsung’s smartphone business suffers, another issue is vexing investors.
Command of one of the world’s most valuable consumer brands eventually will pass to the son of its ailing patriarch. The son’s business abilities remain a mystery despite being elevated two years ago to a top role at the company.
Expectations of a leadership shift at Samsung intensified after the chairman of the flagship company, Samsung Electronics Co., had a heart attack in May. Lee Kun-hee, 72, remains hospitalized.
Lee Jae-yong, 46, was promoted to vice chairman in 2012 after joining the company in 1991. His increasing sway comes as Samsung’s rapid success with the smartphone product category pioneered by rival Apple Inc. is undergoing an equally stunning reversal. Earnings from Samsung’s smartphone business began declining this year, undermined by lukewarm sales of the Galaxy S5 smartphone.
