Samsung’s mobile business renamed MX to highlight user experience

Samsung Electronics Co. on Friday changed the name of its mobile communications business to MX, short for mobile experience, in line with its pursuit of future-oriented technology, highlighting its emphasis on the user experience of Samsung devices.

The name change, Samsung’s first renaming of the division in 26 years, shows the tech giant’s renewed urgency to take on bigger rivals such as Apple Inc., leading the global trend toward the convergence of various technologies to provide multi-device experiences.

“The new name, MX, shows our determination to offer our customers an optimal experience of our mobile gadgets from smartphones to tablets, wearables and other state-of-the-art devices,” said a Samsung official.

Industry watchers said the move is also part of Samsung’s efforts to shed its image of a conglomerate that makes everything from components to finished goods by streamlining its organizational structures and simplifying the names of its businesses.

On Friday, Samsung also changed the name of its think tank, Samsung Economic Research Institute, to Samsung Global Research.

Earlier this week, Samsung Electronics surprised the market by announcing that it is merging its mobile and consumer electronics businesses into a single unit, and replacing chief executives at its three major units in the company’s biggest leadership change in four years.

SAMSUNG ECOSYSTEM

US investment bank Goldman Sachs evaluated Samsung’s latest corporate restructuring, including the combination of its mobile and consumer electronics units, as a significant change that will strengthen the “Samsung ecosystem” and create synergy.

At its Galaxy Unpacked 2021 event in August, when Samsung unveiled two new folding phones, the Z Fold3 and Z Flip3, Roh Tae-moon, president and head of the company’s mobile business, said one of its top priorities is to value the user experience of its products.

“Samsung is once again redefining the possibilities with foldable smartphones that empower users with the flexibility and versatility needed for today’s fast-paced world,” he said at the time.

Samsung said the new products equipped with enhanced features and better durability will help the company strengthen its overall mobile phone market leadership and put it on an equal footing with high-end smartphone leader Apple.

With the name change of its mobile business to MX, industry officials said Samsung may also enter the metaverse business to appeal to young customers, or millennials and Gen Zers, collectively known as MZers.

In October, Samsun unveiled a Galaxy Z Flip3 Bespoke edition, to allow its users to customize the color of their phone.

Samsung Vice Chairman and de facto leader Jay Y. Lee recently said Samsung must change into a younger, more nimble organization to compete with stronger rivals on a global basis.

Write to Min-Jun Suh, Su-Bin Lee and Hyung-Suk Song at morandol@hankyung.com
In-Soo Nam edited this article.