Following Lowered Earnings Guidance, 200 Samsung Managers Return a Portion of Their Bonuses
July 18, 2014 7:30 PM
comment(s) - last by
Total value of returned bonuses is pegged at $2.3 million
Over the past six months, Samsung has flooded the market with a wealth of smartphones and tablets. We’ve seen the launch of the
Galaxy S5 Active
Galaxy S5 Sport
Galaxy S5 LTE-A
Galaxy S5 mini
. On the tablet front, the company has released the Galaxy Tab 4 and
Galaxy Tab S series
Despite a wealth of new smartphone and tablet products blanketing a wide range of price points,
Samsung’s profit guidance for the April-June quarter
is coming in well below analysts’ estimates. Samsung has cited a number of reasons for its profit decline including a strong Won, a broad slowdown in the global electronics sector, and more specifically, tablet sales that have “declined more than expected.”
Galaxy S5 LTE-A
At least 200 managers from the South Korean company are taking the profit downturn to heart, and have voluntarily returned a quarter of their first half bonuses. According to South Korean media outlets, the value of the returned bonuses is around $2.92 million.
$2.92 million is a relative drop in the bucket compared to the
$7.35B net profit that Samsung made during the first quarter
reports that the gesture is largely symbolic to show that the managers take responsibility for the profit decline and will work even harder to improve the company’s performance in the future.
Samsung's mobile division still has time to shine this year, as the next big release on the schedule is the Galaxy Note 4. The next generation “phablet” is set to
feature a QHD display
, with some variants being powered by either the new
or Exynos 5433 processors.
This article is over a month old, voting and posting comments is disabled
RE: Good to see some honest businessmen...
7/19/2014 12:27:25 PM
Yes here they might get fired but get a multi million $$$ out the door package to go with them or they just give themselves a bigger bonus and lay off the real workers.
“Then they pop up and say ‘Hello, surprise! Give us your money or we will shut you down!' Screw them. Seriously, screw them. You can quote me on that.” -- Newegg Chief Legal Officer Lee Cheng referencing patent trolls
Samsung's Exynos With On-Die LTE is Finally Available After 1 Year Wait
July 11, 2014, 12:00 PM
Samsung Sales, Profit Drops in Q2, Apple Sees Troubling Signs Too
July 8, 2014, 8:18 PM
Quick Note: Samsung Officially Reveals Galaxy S5 mini
July 1, 2014, 8:14 AM
Quick Note: Samsung Releases Galaxy S5 LTE-A with QHD Screen, Snapdragon 805
June 18, 2014, 7:34 AM
Quick Note: Samsung Galaxy Note 4 to Feature 5.7” QHD Display
June 16, 2014, 10:56 AM
Inspiron Laptops & 2-in-1 PCs
September 25, 2016, 9:00 AM
The Samsung Galaxy S7
September 14, 2016, 6:00 AM
Apple Watch 2 – Coming September 7th
September 3, 2016, 6:30 AM
Apple says “See you on the 7th.”
September 1, 2016, 6:30 AM
Apple sued because of iPhone 6 Touch Disease
August 31, 2016, 7:00 AM
Get Ready to wait in line – iPhone 7 due September.
August 18, 2016, 7:15 AM
Most Popular Articles
5 Cases for iPhone 7 and 7 iPhone Plus
September 18, 2016, 10:08 AM
No More Turtlenecks - Try Snakables
September 19, 2016, 7:44 AM
ADHD Diagnosis and Treatment in Children: Problem or Paranoia?
September 19, 2016, 5:30 AM
Walmart may get "Robot Shopping Carts?"
September 17, 2016, 6:01 AM
Automaker Porsche may expand range of Panamera Coupe design.
September 18, 2016, 11:00 AM
Latest Blog Posts
Who is in Risk of Getting Oral Cancer?
Sep 23, 2016, 6:02 AM
France Bans Plastic Eating Utensils in Restaurants
Sep 18, 2016, 10:49 AM
Progress Against Acute Myeloid Leukemia
Sep 17, 2016, 5:30 AM
Apple Watch Series 2 - Number 1 in the Customer Satisfaction.
Sep 7, 2016, 6:19 PM
First Self-Driving Car debut on the streets of Singapore
Aug 28, 2016, 4:10 PM
More Blog Posts
Copyright 2016 DailyTech LLC. -
Terms, Conditions & Privacy Information