South Korea's top conglomerate Samsung Group on Thursday has announced the promotion of 353 executives in its personnel shake-up, fewer than a year earlier apparently due to the falling profits from its key affiliate Samsung Electronics Co.

As widely expected, the number marked a sharp drop from a year earlier, when 476 executives were promoted. This year's figure included nine foreigners and 14 females.

Under the move, Samsung Electronics promoted 165 executives, down from the 227 a year earlier, also apparently reflecting its dull returns in 2014.

The world's No. 1 maker of smartphones has been suffering from falling returns from the handset business amid the rise of Chinese players, with its operating profits crashing 60 percent on-year to 4.1 trillion won (US$3.67 billion) in the July-September period.

Samsung Group, however, said it has promoted 22 executives in the memory division of the electronics giant, up from the 20 posted last year. The electronics giant's chip division posted an operating profit of 2.33 trillion won in the third quarter, down 24.5 percent from a year earlier.

Earlier this week, Samsung also sought stability over risk in its first personnel reshuffle since the hospitalization of its de-facto head Lee Kun-hee in May, with his heir taking a wait-and-see stance in expanding his presence.

Under the move, 11 president-level officials were promoted or relocated to affiliates and business divisions across the Samsung empire. Despite falling returns from Samsung's handset sector, the group upheld Shin Jong-kyun to head the IT and mobile division down the road.

Lee Jay-yong, vice chairman of Samsung Electronics also kept his seat and was not promoted to chairman as some industry watchers anticipated in line with the move to expand his power amid his father's hospitalization. Samsung said it was "inappropriate" to discuss the issue for now.

Samsung said it also plans to roll out restructuring plans for each affiliate in the near future. (Yonhap)