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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, Galaxy S5 Active, Galaxy S5 Sport, Galaxy S5 LTE-A, Galaxy S5 mini, and Galaxy W. 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. However, Reuters 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 Exynos ModAP or Exynos 5433 processors.

Source: Reuters

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RE: Good to see some honest businessmen...
By Acupuncture on 7/19/2014 6:35:19 PM , Rating: 2
A "TON" of profit does not matter when Samsung forecasts a 20% decrease over the year prior. That is extremely worrisome for the company. It'll be interesting to see where Apple stands next week. One thing is for sure, market analysts (including DailyTech), don't know a goddamn thing about where the market will go. When Steve Jobs died and sites like DT predicated (and secretly hoped) for the fall of Apple, I bought a significant amount of AAPL knowing the company was extremely under valued. I've made a small fortune in the last year : )

By Reclaimer77 on 7/19/2014 9:57:02 PM , Rating: 2
There's absolutely no evidence they missed those forecasts because of these employees though. I see no reason why they should hand over their hard-earned money because of it.

Samsung lately has been making forecasts they just cannot meet. Like selling 100 million Galaxy S4's.

By Solandri on 7/21/2014 10:32:53 AM , Rating: 3
If you put in a start date of Oct 7, 2011 (Jobs died on Oct 5), you'll see AAPL is up 73% since then.

But SSNLF (Samsung) is up 75% over the same time period.
MSFT is up 77%
NASDAQ is up 78%.
GOOG is up 127%.

You actually lost money investing in Apple instead of other tech stocks. You lost even more if you followed the sheep and invested heavily in Apple in 2012 (AAPL ballooned up before crashing back down - it still hasn't matched its 2012 high yet).

“We do believe we have a moral responsibility to keep porn off the iPhone.” -- Steve Jobs

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